As given: stock markets tend to move synchronously & any downward adjustment is likely to occur together.
One labelling solution as here on EuroStoxx is possible without compromising rules of overlap, wave 3 longest etc. makes wave 4 as a giant months long expanded flat (3-3-5). Not that it was much of a 'correction', it did break the support line. Most indices,...
On the daily chart Estoxx50 Index is getting a bit dangerous for Bulls. DMI, Slow Stoch, MACD all bearish, and most importantly Price has touched the uptrend and arrived to Kumo support. Tenkan/Kijun weak bearish, Chikou Span below Price candles too. However a trend exists until it clearly breaks, and until the trend is so strong bullish, we have to suppose that...
There has been a big move down the hill for the index. Next week, this may rise up a little bit as a technical correction, but the fall of the index may follow the move of other index i.e DAX, CAC40 to say the least
3100 is a very important area where there is a stack of PUT options maturing in April
So 3100 could do to support
First Target 3130 Above which the slope of descent sweeten to enter the channel of volatility RED
Only a rise above 3150 may be more consistent
The whole morning it was sufferring to go higher, price action was very weak.
Daily: MACD bearish cross soon?
4 Hrs: Weak Tenkan/Kijun Sell signal is still valid, price retested Kijun sen and had a sharp turndown. Trend is broken.
DMI turns bearish. Slow Stoch down.
Try to sell on spikes, Target may be 3070. Stop above 3200.
In all aspects Eurostoxx50 Index is extremely bullish, while US mkts are not so much.
Last daily candle is a huge Hanging Man (normally a good indication for short term trend exhaustion), daily Slow Stoch is overbought and started to point down, and watch 4 Hrs ADX, which is close to 50! ADX is a measure of trend's strength, but most of the time when it is so...
While the weakest chain is clearly the DAX Index, the broader European equity index actually somehow not yet that bearish. However I think this is a classic example what not to touch as a trend trader, until one day it looks like a buy and the next day seems rather a sell. All in all it is a consolidation, with flat and thin daily Kumo, confusing daily MACD, and...
I have to admit, I do not have too much "luck" trading equities this year. My timing is not very good, and my mind is too much influenced by non technical factors, which tend to block me from going long on equities by technical signals. Last sell round worked well on this index (not like on SP500 wichi can not drop in any circumstances), but now looks bullish...
After heavy selling in European equities I think we'll see some correction now. Estoxx50 indx has chance to come up to 3060-3070 (maybe even to 3090). Slow Stoch is turning up both on daily and 4 Hrs time frames. Watch 4 Hrs px action there and check if we see a new sell signal, like Slow Stoch bearish cross. The bias is still bearish, unless px closes and stays...
Next one which behaved very well. Please see post and reco:
All the negative divergences stopped the bulls, and caused another wave of correction. Puts and outright shorts (if you sold on that spike or in the small breakdown) worked pretty well, but since these levels ard 3050 are still very supportive for short term, I suggest to close bearish positions for...
Two daily reversal candle, followed by todays px action. Daily MACD turning down slowly, Slow Stoch back below 80. 4 Hrs trend breaks just now, DMI close to a bearish cross. Bund is flying, EURCHF down.
Equities are getting close to a major correction again. Maybe it is time to put on some initial shorts, or buy put options.
We are still far from a major selloff,...
Rising wedge formation in the chart with possible break out points marked according to the recent movements that were less and less steeper. Resistance levels would be 2952 and 2890. Downward break outs should occur from 05-07/11 or on a second try 1 1/2 weeks later. This pattern is broken if the price breaks the upper resistance trendline.
After consolidating for about two weeks, the EUSTX50 screamed higher gaining about 90 points within the last two days. In the process, it broke through a multi-year resistance level shooting vertical over today. Any pullbacks towards 2955 should be considered buying opportunities, targeting 3000, and 3100. Bullish bias remains while daily closes are above this level.
