Weekly Global Indexes Technical Analysis, Jun 5 – Jun 9

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Updated: Mar 4, 2019, 13:23 UTC

DAX 30 The DAX Index initially dropped at the open on Monday, but spent the rest of the week break out to the upside. We made a fresh, new, high in the

DAX 30

The DAX Index initially dropped at the open on Monday, but spent the rest of the week break out to the upside. We made a fresh, new, high in the market, and it looks as if pullbacks will continue to be bought as the DAX seems to be very well supported just below at the €12,500 level. I believe that the market will probably continue to reach towards the €13,000 level above, and that the bullish attitude continues to be what we see in this market, as we have seen a significant move over the last several months… Read More

S&P 500

The S&P 500 initially fell during the week but found enough support at the 2400 level to bounce significantly and show it strength. I believe that the market now is going to go to the 2450 handle, and then eventually the 2500 level. The market seems to have a bit of a floor at the 2400 level, so I believe it’s only a matter of time before the markets find buyers on every dip we get. Longer-term traders are going to continue to favor the upside, and I believe that it will continue to be that way… Read More

FTSE 100

The FTSE 100 had a volatile week, initially reaching down towards the 7500 level, and then bouncing off of them to gain again. I believe that the market retains is bullish attitude, and therefore I have no interest in shorting. I believe that a pullback should find plenty of buyers, especially down at the 7400 level. Longer-term, I anticipate that the market will probably go looking for the 8000 level but it may take some time to get there… Read More

Dow Jones 30

The Dow Jones 30 initially fell during the week, but found enough support below the 2100 level to turn around and form a nice-looking hammer. Because of this, I believe that the market is going to continue to go higher, as we have broken out of the consolidation area. The market has made a fresh, new high, and I think we continue to find buyers every time we dip. The market should then go to the 22,000 level, and beyond… Read More