Nothing has changed for our view, indeed it strengthens. Today’s retracement was expected, and further upside is very likely by tomorrow. Indeed, new hikes are expected for equity markets as early as tomorrow.
Let’s proceed step by step starting from the current prices, then taking a look at the weekly forecast and the levels to be monitored to keep the pulse of the situation.
At 6:45 pm on the trading day on October 18th we read the following prices:
Dax Future
15.456
Eurostoxx Future
4.139
Ftse Mib Future
26.080
S&P 500 Index
The annual forecast has turned lower since the beginning of August
In red, our annual forecast for the world stock index on a weekly scale for 2021.
In blue, the chart of the American markets up to 15 October.
What should the graph of the week that has just begun look like?
Bearish side phase between Monday and Tuesday (in one of the two days the weekly low will probably be marked), and then leave room for a rise until the whole of Friday. Tomorrow morning within the first hours of trading, prices, after an uncertain opening, should move quickly upwards.
Has the weekly low already been marked? Could
New hikes for equity markets are expected from tomorrow. The levels to monitor
Dax Future
Bullish trend until we see a daily close below 15,280.
Eurostoxx Future
Bullish trend until there is a daily close below 4.085.
Ftse Mib Future
Bullish trend until there is a daily close below 25.755.
S&P 500 Index
Bullish trend until we see a daily close below 4.386.
Which multidays trading operation for Tuesday and the following days?
Keep the bullish positions open today at the opening, aiming for a rise of at least 7/10% if not beyond until Christmas. We emphasize that usually from the lows of October starts a rise that could last until April 30 of next year. As usual, we will proceed step by step
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