Stock market Indices technical analysis S&P500, DAX, CAC, NIKKEI, NASDAQ
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S&P500
S&P500 is testing the 2400 level after the brief break above it. The daily close below the 2360 level is required for the test of 2320 level. The upside support zone is 2360-2375.
DAX
The instrument has reached the 12860 level again and the daily close above this level is required for the upside continuation. The daily close below 12700 would lead to a 12300 uptrend line retest.
CAC40
The instrument is in the perfect uptrend continuation with the support in the 5100-5175 zone. Staying aside for now as the instrument is at all time highs 5400 level.
NIKKEI
Nikkei is testing the 200 level after the break above the strong resistance 195.50 level. The strong support after this upside break continuation is 195-196 zone. Staying aside for now.
NASDAQ
The instrument has bounced from the 5325 level and is reaching the upper line of the long-term uptrend Pitchfork channel 5600 level. The confirmation of this break could lead to a test of 5780 near-term. The daily close below 5580 will invalidate the upside and could open the short trade entries.
We are neutral to bearish 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.<