Quick overview of European indexes
- DAX: Nothing has changes since my last post. The market has a very helthy uptrend and we are waiting for it to do some kind of consolidation or correction. This will give us some reference to build a strategy or recommendation based on it. For now just up and up.
- FTSE100 (UK): It managed to make a break up and make new maximuns this last 2 weeks. Now it looks it’s doing a pull-back to consolidate that move. It could stop just at 6900, which i think its too positive or a bit lower at 6750. There we find the 50 moving average, a moving averange and it will also be giving some space for the oscillators to chill out for the next rally. Other techniques like Ichimoku show intermediate supports so it wont be surprinsing if it turn around before. However 6750 will be the most important mark, if not then we have lots of space for a free-fall.
- EUROSTOXX 50: This index looks pretty much like DAX. It broke its maximuns and now its just going up without hesitation and all oscillators, even the slower ones, are now starting to be dangerously high. So even though it could keep going up i think a correction or consolidation should be close. For this reason i wouldn’t get nervous if some negative or flat days came. Even more ill use this as a reference to built up future strategies and trading plans.