Stock market Indices technical analysis S&P500, DAX, CAC, NIKKEI, NASDAQ
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S&P500
S&P500 is testing the 2400 level again. The daily close below the 2360 level is required for the test of 2320 level. Look for the short entries on a daily close below 2320 level. Staying aside for now.
DAX
The instrument has fallen below 12750 level and we are now looking for the downside extension into 12200-12300 zone. SL on short entries above the 12800 level. No change in view.
CAC40
The instrument is pulling back from the 5400 level and we could see a test of the strong uptrend support 5100-5200 zone. Look only for short entries targeting the support level with SL above 5450 level. No change in view. The near-term level of support, downside resistance is 5160.
NIKKEI
Nikkei has bounced from the 191.6 level and has reached 198 level again. Look only for short trades here with the SL above 200.
NASDAQ
The instrument has reached 5750 level with the negative RSI divergence and a pullback into 5550 is possible. Look only for the short trades with the SL above 5780.
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.<