Stock market Indices technical analysis S&P500, DAX, CAC, NIKKEI, NASDAQ
Click on the chart image to enlarge it
S&P 500 has reversed short term downtrend to the upside and is now targeting again 2200-2250 zone. Support is 2130 and SL on longs should be below this level. Strong 2185 resistance is broken and we have 2300 target level in sight now. No change in view support is 2150-2185 zone.
We had a retest of 10250-10380 zone and small bounce is possible here. We are in the middle of the range 10250-10700 and waiting for a price action signals. Price action is now bullish targeting 11500 higher at least but we need a break above 10790 for confirmation. Ideal buy zone 10400-10600. No change in view and the instrument is in the buy zone. SL on longs here should be below 10400.
CAC 40 is positioned to the upside but as it can be seen on a chart we need a break above 4600 for upside momentum to gain traction. Taking this range into consideration we are standing aside until we have a break above 4580. Support zone is 4400-4500. No change in view the instrument is close to an upside wedge break.
Nikkei broke the 1750 level and we are waiting the price action set up to enter longs. SL on longs here should be below 1740. No change in view we will be long some YEN pairs based on this break. Support now is 1800. No change in view.
Waiting for a reaction from 4650-4700 zone. Bouncing from this strong support zone but is still in a range between 4650-4780. This consolidation could be used for long entries. SL on longs should be below 4780 targeting 5000.
We expect USD uptrend now to continue after short term correction is over and we are bullish now 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 this site.