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 in the wedge with 2300-2350 support zone and the daily close above 2375 is required for the upside continuation. No change in view.
DAX
The instrument has broken below the upside trend line. This break could lead to 11700 level retest. Look only for short trade entries as the instrument is testing the broken trend line. SL should be above 12300.
CAC40
The instrument is breaking below the uptrend line and the downside support is 5050 level. Look only for short trade entries for now with SL above 5150 level.
NIKKEI
Nikkei has closed below 100 SMA level 189.55 level which is opening now the 176 level of 200 SMA. Look only for short entries with SL above 188 targeting mentioned 176 level. No change in view.
NASDAQ
The instrument has broken below the 5390 support level and the daily close below 5300 level would open the 100 SMA 5160 level retest. Staying aside for now as the instrument is retesting the broken 5400 level.
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 the trend trading DNA.