Stock market Indices technical analysis 2/08/2017

Stock market Indices technical analysis S&P500, DAX, CAC, NIKKEI, NASDAQ

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S&P500 has broken above 2260 and reached the 2300 target. Above this level look for continuation into 2400 if we get a clear confirmation of uptrend resuming. Strong upside support now is 2260 level and invalidation of the medium-term uptrend only on a break below 2225. No change in view and the instrument is testing support for possible continuation.



The instrument has broken above 11620 consolidation cap level and has reached 11850 level. To finish the upside perfect extension it needs to hit 12040 level. Strong support now is 11500-11650 zone. Look for long opportunities here on a bounce from uptrend line, for now, with SL below 11400. No change in view.


The instrument broke below 34 SMA and has made a broadening wedge between 4700 and 4900 level. The 4700-4750 zone is the strong support zone and look for reaction here for a direction in the pair. Only below 4700, we could see a retest of 4600-4650 zone. We have a bounce from 4700 level. SL on long entries here should be below 4700 targeting 4850 for now.



The instrument is retesting strong support zone 188-190 and looking as a hold of the flag at the moment, watching reaction here for a further action.


The instrument is reacting from broken new high 5024 level and as long this level hold look for longs with SL below 5100 targeting 5300. Invalidation and an uptrend only on a break below 4700. Strong support now is 5070-5100 zone. Bounce from support zone supporting long entries with SL below 5100.


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 this site.

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