Stock market Indices technical analysis S&P500, DAX, CAC, NIKKEI, NASDAQ
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S&P500
S&P500 has broken above 2260 and has reached the 2300 target. Strong upside support now is 2260 level and invalidation of the medium-term uptrend only on a break below 2225. The instrument is in the wedge with 2300-2350 support zone and the daily close above 2375 is required for the upside continuation. No change in view as the instrument is consolidating around 2375 level.
DAX
The instrument has bounced from 12075 again and has made a narrow channel with the 12530 upper line which is being tested now. Staying aside for now.
CAC40
The instrument is now n the wedge testing the 5250-5300 zone. The rejection from this zone could lead to a retest of 5000 level, this is also the gap up the level.
NIKKEI
Nikkei is testing now 194 level of the upside resistance. The rejection from this level could lead to a gap up retest 186-189 zone. Look only for short entries with SL above 194
NASDAQ
The instrument has bounced from the 5325 level and is reaching the upper line of the long-term uptrend Pitchfork channel 5550 level. Look only for short trade entries with SL above 5560.
We expect USD uptrend now to continue after short-term correction is over and we are bullish on stock market indices.
Stocks online market indices may be classed in many ways. A ‘world’ or ‘global’ stock market index includes (typically large) companies without regard for where they are domiciled or traded.
A ‘national’ index represents the performance of the stock market of a given nation—and by proxy, reflects investor sentiment on the state of its economy. The most regularly quoted market indices are national indices composed of the stocks of large companies listed on a nation’s largest stock exchanges
Technical analysis on stock market indices is just an indication of possible price movement and does not indicate any trade action which could be initiated by investors and members of the trend trading DNA.