Dax & Dow

[Caseynotes]

Dax just moving up to the pivot for the European market open, shortened S/R levels from yesterday's lack of movement. The Dow R1 is the one to watch (yesterday's high), a break there should lead to further gains.

[Caseynotes]

Overnight looking for support. Daily pivots using Friday's data, Dax currently resting on S1 with Dow heading towards S1, may all turn around on the European open at 7am or the London open at 8am so watching firstly for who controls the pivot to indicate this morning's direction.

[Caseynotes]

Dax storms up to the pivot on the London open, finds sellers waiting.

M15 charts;

[Caseynotes]

The recent pattern of heavy overnight trading continues, as mentioned in the Indices thread the red lines here for both Dax and Dow are important support levels. Likely to see an attempt to check the pivot this morning.

[Caseynotes]

No attempt to check the pivot, Dax went for S3 and now back up to tag S2 while Dow tagged S1 then onto S2 and now reversing back up.

Fed chair Powell speaks at 1:45 may provide some reaction before the US open.

[Guest phil]

Overnight the MSCI Asia Pacific Index slipped 0.4%. Japan’s Topix index closed 0.2% lower, with technology shares among the worst performers after Apple Inc. dragged down peers following an analyst downgrade. In Europe, the Stoxx 600 Index was down 0.8% by 5:50 a.m. in a broad-based sell off, with chemical companies weighing on the gauge following a profit warning from BASF SE. S&P 500 futures pointed to a loss at the open, the 10-year Treasury yield was at 2.068% and gold declined. 

[Caseynotes]

Dow tags the pivot before the US close, Dax stuck at S1.

H1 charts.

[Caseynotes]

Both ducking under the daily pivot on the European open looking for support, will wait for the London open to confirm direction.

H1 charts;

[Caseynotes]

After an initial move lower Dow back to re-check the pivot with Dax following so direction for the session still undecided.

H1 charts;

[WallStFoxy]

The Dax has just tagged yesterdays low and could now make an attempt at this mornings high. 👿

[Caseynotes]

And Dow, lifts straight up to R1 26835.

[Caseynotes]

Fed chair Powell's testimony on mon pol to congress.

[Caseynotes]

Dow tags R2 26898.

Gold hits 1411. 

[Caseynotes]

Dow tags R3, Dax stuck at the pivot.

[Caseynotes]

Dow retraces 50% back to R1 while Dax sits on S1. Tomorrow may well bring continuation higher lead by Dow.

H1 charts;

[Caseynotes]

Starting the day looking for support, Dax below the pivot may find it here at 12392 or further down 70s then 50s. Dow above the pivot but has 2 resistance levels to climb through to get to R1 at 27013.

H1 charts;

 

[WallStFoxy]

Wall St. is getting close to 27000 again and the Dax is lagging well behind. I expected a strong rally this morning especially with the FTSE looking bullish but that's not happened yet so here's my worry:

13:30 High UNITED STATES-JOBLESS CLAIMS - INITIAL CLAIMS

If this is a bad print Wall St could reverse yesterdays spike in a flash and we could see the Dax heading for 12250. 👿

Wall St. H1

 

Dax H4

[Caseynotes]

Dow closing in on yesterday's high with CPI and jobs data in a few minutes. Data these days is a double edged sword, don't want to see figures so good they reduce the expectancy of a rate cut latter this month.

Dax struggling to stay above S1.

[Caseynotes]

Dow resting on R1 after a hard climb up during the US and Asian sessions while Dax is still pulling it's boots on. Dax made little effort yesterday and the burden of a sagging EU economy is really weighing. EU indy prod figures at 10am.

[Guest facepalm]

The U.S. budget deficit widened by 23% to $747 billion in the first nine months of the fiscal year, a chasm tied to Republican tax cuts that largely benefited corporations and the rich. Government spending increased to $3.36 trillion, up 6.6% from a year earlier. But Wall Street stayed sanguine: The Dow surpassed 27,000 for the first time, following Wednesday’s record 3,000 mark for the S&P 500. —David E. Rovella

[Caseynotes]

EU indy prod figures better than expected but still fairly dire, Dax not impressed, currently range bound.

m/m   0.9% against 0.2% expected  

y/y   minus 0.5% against minus 1.5% expected.

[Caseynotes]

Dow retesting the all time high from overnight but lacking real drive at the mo, it took the US market open to provide the push yesterday.

[Caseynotes]

Dow punches straight into R2 on the US market open while Dax still languishes below the pivot, the correlation really has broken down for now. 

[Guest Homer Enronride]

What the hell is going om with Dax?

Moves like a dead fish in water

Could it be something with Deutsche bank?

 

 

 

[Guest Homer Enronride]

Maybe not the DB stock it self?

I was thinking more about something like this?

https://www.zerohedge.com/news/2019-06-16/deutsche-bank-launch-eu50-billion-bad-bank-housing-billions-toxic-derivatives

Something is wrong when Dax dont jump when Dow says jump?

 

[Caseynotes]

Dax still trapped in this down slide while Dow goes onto new highs. Both have just run into resistance this morning after getting a lift at 3:00am presumably off the better than expected China indy prod and retail sales data.

[Caseynotes]

Round trip for Dax from the pivot to R2 and back again, same for Dow but to R1.

Dax trying to hang onto the pivot, if not could see a test of S1 around 12290.

M30 charts;

[Caseynotes]

Dax back up to R1 (12370) after a visit to S1, Dow confirmed support at 27323 and heading towards 27400 again.

M15 charts;

[WallStFoxy]

I don't like the look of Wall St. this afternoon, it appears to want to retrace to test 27285 if that beaks then we are starring at 27,000 and that could put the Dax back into a spin. 👿

[Caseynotes]

Dow checking the pivot before the London open, Dax looking to support at 12389. Both currently above the pivot so looking for long entries.