As per weekly forecasts, today’s day had to be retracement / lateral and then leave room for new rises from tomorrow. At the moment, economic data, central banks and American quarterly reports do not reveal any elements that may cause concern.
What is our view after this Monday?
Interlocutory day today but from tomorrow the markets should immediately start rising again to avoid dangers.
Let’s proceed step by step and let’s analyze the situation.
At 7:12 pm on the trading day on August 2nd we read the following prices:
Dax Future
15.545
Eurostoxx Future
4.107
Ftse Mib Future
25.280
S&P 500 Index
We are entering a cyclical window where our annual forecasts place the formation of a relevant top for the next 12 months at least
In red our annual forecast on the global weekly stock index for 2021.
In blue the chart of the American markets up to 30 July.
At the moment, except for a bearish reversal at least on the weekly time frame, we believe that a self-change of the bearish to bullish scenario is underway and that the upside may still continue for several weeks.
Forecast for the week of August 2nd
The weekly minimum is expected between Monday and Tuesday and the maximum on Friday. For the moment everything as expected from our sample path. However, tomorrow is decisive for confirming or not the weekly scenario.
Interlocutory day but from tomorrow the markets should start rising immediately to avoid dangers
What are the levels that will keep our bullish forecast intact?
Dax Future
Bullish trend in progress. Short bearish reversal with daily close on August 3rd below 15,496.
Eurostoxx Future
Bullish trend in progress. Short bearish reversal with daily close on August 3rd below 4,080.
Ftse Mib Future
Bullish trend in progress. Short bearish reversal with daily close on August 3rd below 25.220.
S&P 500 Index
Bullish trend in progress. Short bearish reversal with daily close on August 3rd below 4.372.
What trading operations to keep for Tuesday?
Maintain long multidays on the indexes analyzed.
As usual, we will proceed step by step.
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