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Both dow and dax charts showing interesting On Balance Volume divergences.

 

dax daily chart

dow 4 hour.

 

GER30(£)Daily.pngUS30(£)H4.png

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Another big drop happening. Dow just broke down through the 23.6 Fib (23942), and now looking to recapture. Dax finding support off 23.6 Fib level (12160). Dax following Dow.

 

US30(£)H1.pngGER30(£)H1.png

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Very much a picture perfect example of a head and shoulders pattern on the Dow yesterday including a battle over the neckline and a measured move down (head to neckline = neckline to target).

 

US30(£)H1.png

 

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Indices totally reliant on Trump tweets for direction now, should be starting up shortly :smileyhappy:

 

indy1.PNG 

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Dow has moved higher through the day dragging Dax with it, Dax now approaching the post gap high and strong resistance. If the upward momentum continues into the US session could see a clear break for Dax.

 

US30(£)H4.pngGER30(£)H4.png  

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Dow thinking to retest breakout level around 24674 while Nikkei itching to break out up past 21957.

 

 

US30(£)H4.pngJPN225(£)H4.png

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aus plays catch up, dow and nikkei form a flag and dax trips over the line for a foul. Barring WW III the mood remains bullish.

 

indy3.PNG 

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Just comparing the weekly charts and noting they are all at about the 50% retracement of the big move down from January and for dax and nikkei this was as far as they got on the first attempt to bounce back.

 

 

indy5.PNG

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DAX has made quite an effort to get up this far, may need a restCapture dax.PNG

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Both dax and nikkei still nudging resistance (not forgetting the ECB rate decision and presser on Thursday) but dow remains undecided and cautious.  

 

 

indy7.PNG

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DAX  another way of looking at it                        Capture ddaaxx.PNG

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it really was "Quite a level"   - great rejection   - DAX

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Dow lead the charge down yesterday and now looking to confirm support as nikkei looks to lead a charge back up.

 

 

indy8.PNG

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Dax, break out of either 1 hour resistance at 12466 or 1 hour support at 12417 should lead to further gains though multiple support at 12375 may cap the downside.

 

GER30(£)H1.png

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Dow daily running up to down trendline resistance but note this push up is from mid triangle and a higher low so maybe positioning for a break to the upside. While dax pressing on stubborn resistance.

 

Dow daily, Dax daily and 1 hour.

 

US30(£)Daily.pngGER30(£)Daily.pngGER30(£)H1.png

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Dax and nikkei back up to the weekly chart resistance while dow takes another look at the trendline.

 

 

indy.PNG

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ASX was out of step as  says in the ASX thread, the dow took a dive in the US session while dax had a dull day and remains loitering about the resistance level.

 

 

indy.PNG

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Dax goes it alone and breaks up past the weekly chart resistance level  12610  and heads for the 61.8% retracement of the down move at 12870. 

 

 

GER30(£)Weekly.png

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Dow and nikkei looking to bounce up off support while dax flies the flag having finally beaten that weekly resistance level. ASX ploughs through weekly resistance but has monthly just ahead.

 

 

indy.PNG

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