Jump to content

Dax & Dow

Recommended Posts

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.

image.thumb.png.79d4d867eb596c9f966e556ab206ce2c.png

Share this post


Link to post

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.

image.thumb.png.e810b1d5a761240b702a030572cd3549.png

Share this post


Link to post

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

M15 charts;

image.thumb.png.27d2e66034ff82f0750a3b2f9d00eed5.png

Share this post


Link to post

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.

image.thumb.png.90410d4ea15718ea8357c22d84257078.png

Share this post


Link to post

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.

image.thumb.png.69c40688b355dd52572a5a8b28698a64.png

Share this post


Link to post
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. 

Share this post


Link to post

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

H1 charts.

image.thumb.png.145a7eecdd16008e070cff08153c6e70.png

Share this post


Link to post

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

H1 charts;

image.thumb.png.b80292641fce3aa912c5a10ce7266fac.png

Share this post


Link to post

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

H1 charts;

image.thumb.png.e2ab8da859fc0a54dd99e11630a0d391.png

Share this post


Link to post

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

ger30-h1-ig-group-limited.png

  • Like 1

Share this post


Link to post

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

H1 charts;

image.thumb.png.7aed2f0bd6ab5d338dfafb1a201a2ff3.png

Share this post


Link to post

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;

image.thumb.png.0dac9b077a6f202e04dc21bf25533a4f.png

 

Share this post


Link to post

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

us30-h1-ig-group-limited.png

 

Dax H4

ger30-h4-ig-group-limited.png

  • Like 1

Share this post


Link to post

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.

image.thumb.png.cbc8c696576917f8056daaf82e9666ae.png

Share this post


Link to post

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.

image.thumb.png.2d706389d16f026002315002f1f12c28.png

Share this post


Link to post
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

Share this post


Link to post

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.

Share this post


Link to post

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.

image.thumb.png.6da6468ed33ff01dbece2df8db11e4ad.png

Share this post


Link to post

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. 

image.thumb.png.b125fea3523c400c3a8969f684e85982.png

Share this post


Link to post
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?

 

 

 

Share this post


Link to post

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.

image.thumb.png.99ae5a33ec91bbc72dc44d99d7abe8b8.png

Share this post


Link to post

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;

image.thumb.png.8cd0ab80a4e57e110a0ee1418ce02e41.png

Share this post


Link to post

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

M15 charts;

image.thumb.png.9e01f726631d5f5405ce1d9246538710.png

Share this post


Link to post

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. 👿

us30-m5-fxpro-financial-services.png

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Member Statistics

    • Total Topics
      7,775
    • Total Posts
      40,553
    • Total Members
      50,944
    Newest Member
    bradleyjreid
    Joined 20/11/19 21:41
  • Posts

    • So US indices have been climbing higher (albeit a red day today). Trump needs the US stock market to blossom in order for him to say that it is a lot higher since he became US President.  So what happened to the wall he was going to build? This was one of the key pledges he was making during his election campaign. It is no different to Boris Johnson saying with confidence that the UK would leave the EU on 31st October 2019! There were even messages on the M1 (Motorway) in the UK inferring this.  POLITICAL SPIN and Marketing Wizardry at its best. Trump has focussed the media attention on the US-China Trade War to deflect from his broken promise so far.  Traders need to understand the fundamentals and how they work when it comes to politics and economics when trading not just US and UK indices but all major indices around the world. There were lots of stock market predictions being made about how it was going to see a big fall but this has not materialised. It may well do in 2020, I don't know, but never fight the trend until the bend at the end. Even then the bend can turn back again and continue which is what we have been witnessing with the US indices as politicians control the news flow, dictate the narrative and plot the course for stock markets.  
    • One should treat trading like a business. In any successful business there would be a business plan. So for any successful trader there must be a trading plan.  There is a cheesy line but very true which is something like - failing to plan is a plan to fail.  Some of the best and most successful traders in the world will have and are more likely to have a trading plan. I would be surprised if they do not.  This trading plan can be an evolving plan which can be changed and adapted as situations change, knowledge improves, experience is gained, etc. 
×
×