Weekly Global Indexes Technical Analysis, Jun 26 – Jun 30

DAX 30

The DAX index had a pretty eventful week but those who look at where it ended up for the week would not realise how much of volatility and promise that it had shown during the course of the week, only to lose it all as the week progressed and then end up back within the usual range by the end of the week. It was indeed a great ride during the course of the week for the traders and it has to be said that it is indeed a pity that after all what we saw over the week, neither the bulls nor the bears could push the DAX index beyond the range… Read More

S&P 500

The major U.S. stock indexes finished relatively flat for a third week as news regarding the Trump administration’s policy changes were met by muted reactions from investors. Rallies in health care and tech shares offset a plunge in energy stocks.

In the cash market, the blue chip Dow Jones Industrial Average closed at 21,394.76, unchanged. It’s up 8.3% for the year. The benchmark S&P 500 Index settled at 2,438.30, up 0.2%. For the year, it’s up 8.9%. Finally, the tech-based NASDAQ Composite ended the week at 6,265.71, up 1.8%. It’s up 16.4 in 2017… Read More

FTSE 100

The FTSE 100 initially tried to rally during the week, but found it a bit difficult above the 7500 level. We turned around to fall significantly and reach towards the 7400 level under that, which of course was supportive. With this being the case, it’s likely the buyers will return, as 7400 has been so important in the past. I believe that the 7400 level previously was rather resistive, and that should now be supportive. A break above the 7600 level could happen relatively soon, and I believe that buying is the only thing you can do. As you can see on the chart, I have the 20 week exponential moving average in front of you, and of course the chart is sliced into 100 point increments… Read More

Dow Jones 30

The Dow Jones 30 had a volatile week, initially dropping, but then breaking well above the 21,400 level. By the end of the week, we rolled right back over and form a shooting star. I believe that this market continues to go higher, and I believe that the Dow Jones 30 is continuing to enjoy bullish pressure as we go forward. I like pullbacks, as they offer value, and the 21,000-level underneath should be support. The Dow Jones 30 of course favors the upside as there is a significant amount of reason to go higher, as the US economy continues to strengthen and of course the interest rate environment is so low… Read More