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 above 2300 target and now we look at the upside extension into 2430. SL on long trades at 2270. No change in view
DAX
The instrument has broken above 11620 consolidation cap level and has reached 12070 level. SL on long trades should be below 11600 targeting 12400 after the new 12040 level break. The support zone is 11750-11800. The daily close below 11750 level could lead to a deeper pullback into 11300-11500 zone.
CAC40
The instrument broke above broadening wedge between 4700 and 4900 level. We have the retest of a recently broken wedge and a bounce. Targets are 5000 and 5150. If you are not long, look for fresh long entries on a pullback to 4850 or on a clear daily close above 5000. The instrument has bounced from the support zone 4800-4900. Only long trades are preferred now with SL below 4800 targeting 5300.
NIKKEI
The instrument is bouncing again from the 190-192 zone for an upside continuation targeting 205. Look for long entries with the SL below 191 level.
NASDAQ
The instrument has reached the 5340 target and a clear daily close above this level is leading the instrument into a 5500-5600 zone. The upside support zone is 5200-5300. SL on long entries below 5200 level. No change in view.
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.