S&P500: Future 4 hour chart - Feb 26th.
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Bear scenario:
The Line in the sand at 13860 held in the current trading week. Should 13860 be undercut on a weekly basis and a weekly closing price and a daily closing price then 13601 - 13718 are generated. DAX could gain strength at 13249 – 13460. Should this zone be undercut then the sell-of target would be at 12990 and then 12735.
Bull scenario:
If bulls can exceed 14131 and take out the all-time high at 14169 on a daily basis, then we can look forward to reach 14294 as the next target price. If we can hold the price range off 14382 - 14440 and exceed this zone on a weekly basis, then DAX can rise to 14750 and then, after a short break and consolidation phase rise to 14970 – 15065.
A bear market is when a market typically fall 20% or more from recent highs.
If we break resistance it become support If we break support it become resistance. Buy and Sell confirmation: Bull market don’t buy if the RSI is overbought always wait for pullback. Bear market only sell when the RSI is overbought or wait for a bounce.
Keep it simple and trade with the trend – you will never lose and live 10 years longer!
The Line in the sand at 13860 held in the current trading week. Should 13860 be undercut on a weekly basis and a weekly closing price and a daily closing price then 13601 - 13718 are generated. DAX could gain strength at 13249 – 13460. Should this zone be undercut then the sell-of target would be at 12990 and then 12735.
Bull scenario:
If bulls can exceed 14131 and take out the all-time high at 14169 on a daily basis, then we can look forward to reach 14294 as the next target price. If we can hold the price range off 14382 - 14440 and exceed this zone on a weekly basis, then DAX can rise to 14750 and then, after a short break and consolidation phase rise to 14970 – 15065.
A bear market is when a market typically fall 20% or more from recent highs.
If we break resistance it become support If we break support it become resistance. Buy and Sell confirmation: Bull market don’t buy if the RSI is overbought always wait for pullback. Bear market only sell when the RSI is overbought or wait for a bounce.
Keep it simple and trade with the trend – you will never lose and live 10 years longer!
Note
GER30 - After previous analysis Feb 15th, and since the all-time high of 2021 February 8, at 14169 DAX has tested the lower edge of the sideways phase of 13860 and for now 13673 points. The upward trend has not yet broken in the medium term DAX is in a sideways phase. As long as we are in this sideways phase, it is possible that DAX breaks out abruptly downwards or upwards.
Germany30 and S&P500 Intraday analysis August 23rd. and weekly update 34. Posted at twitter: twitter.com/SP500_Dow
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