Other Markets
DAX ANALYSIS
(6126) The DAX formed on Friday a negative outside day reversal with now 6275 – 6055 the levels to follow in the coming hours. A daily closing below 6055 will support a deeper correction.
S&P ANALYSIS
(1276,50)The S&P plunged already below the 200 hours line, now s/t resistance at 1278,30. While below 1281,00 on an hourly closing we expect a 1270 undershooting where we close our short. Note however that the indicators are already close to the oversold area showing also potential positive reversals.
DAX ANALYSIS
(6090)The DAX confirmed a double top formation plunging below our stop. We expect an extension of the correction toward the 200 hours line at 6039 if not even a move toward the important support line at 5873. However this decline is corrective and a new buying opportunity!!!!!!!!!!!!!
BUND ANALYSIS
(139,01)The BUND found good resistance already below 139,45 where it formed a small double top. The closing was negative but only a daily closing tonight below 138,95 will favour lower levels.
DAX ANALYSIS
(6244) The DAX confirmed a strong closing yesterday above the resistance of the inside day at 6210 supporting higher levels. We expect an extension toward the target at 6331with even a possible overshooting toward October’s high at 6456!!
S&P ANALYSIS
(1294,60)The S&P managed to confirm a strong closing last night despite the drop toward 1281. Possible a retest of the 1297,50 level and an hourly closing above this level will support further strength suggesting a 1300 overshooting that could mean an extension even toward 1314!!
S&P ANALYSIS
(1281,50)The S&P confirmed a s/t top after having confirmed our target at 1293,60. Possible rebounds are selling opportunity especially in case of a retest of the 1288/90 area. We sell a 1288,00 overshooting for a drop toward the 200 hours line at 1274,31!!
S&P ANALYSIS
(1286,90)The S&P failed also yesterday to confirm our target finding good resistance already at 1289,20. Only a break below 1279,30 will however support lower levels suggesting a test of the 200 hours line at 1272,97, where we expect decent support.
STOXX 50 ANALYSIS
(2344)The EUROSTOXX 50 confirmed a further positive closing suggesting further upside potential for this index toward the 2400 area. The indicators of the daily chart are well positive and also those of the s/t ones are in positive territory this morning supporting a possible move up.
DAX ANALYSIS
(6161) The DAX confirmed yesterday a session of consolidation forming a new inside day with now 6210 – 6065 the levels to follow. The closing was however positive last night but still it failed to confirm one above 6186.
BUND ANALYSIS
(139,25)The BUND confirmed a new high after having failed to extend the drop below 138,43 where it even formed a small double bottom. The move up aborted of course the suggested S_H_S formation, re-launching the move up.
GOLD ANALYSIS
Spot Gold continued its rally from Tuesday with notable fresh safe-haven buying, physical demand from Asia, and technical buying from CTA and macro accounts (on the break up through the 200 day MA at $1636.36) leading the steady climb higher.