Over the weekend we wrote that A decisive week awaits us for equity markets. What happened today? After a first attempt at a rebound, prices turned downwards. Has the weekly high already formed and will it go down again from now on or will it go up again from tomorrow?
At 8:02 pm on the trading day on October 4th we read the following prices:
Dax Future
15.038
Eurostoxx Future
3.985
Ftse Mib Future
25.195
S&P 500 Index
For the moment, after this trading day we can say that the downside continues in the markets and the resistance levels remain unchanged.
The annual forecast has been turning down for several weeks and projects this trend until at least December
In red, our annual forecast on the world stock index on a weekly scale for 2021.
In blue the chart of the American markets up to 1 October.
For the moment, everything is proceeding as per the sample path and if our view turns out to be correct, between today and tomorrow, the weekly maximum should form and then make room for new sales.
The downturn continues in the markets and resistance levels remain unchanged
Dax Future
Bearish trend until we see a daily close above 15,250. Only long-lasting rises with a close on 8 October above 15,699.
Eurostoxx Future
Bearish trend until there is a daily close above 4.046. Long-lasting rises only with a close on 8 October above 4,180.
Ftse Mib Future
Bearish trend until we see a daily close above 25.480. Long lasting rises only with a close on 8 October above 25,930.
S&P 500 Index
Bearish trend until there is a daily close above 4.376. Long-lasting rises only with a close on 8 October above 4.457.30.
What trading operations to keep for Tuesday?
The advice is to keep short in a multidays perspective. What might the trading day look like? Opening on the highs and closing on the lows.
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