Nothing is more dangerous than predicting "market tops" but here goes.
I'm guesstimating a corrective move down in the next ~5 trading days. We might have to pop a bit higher (~12270 - 12300) to kill some short stops but a corrective move is to be expected very soon.
DAX have now gapped up two days in a row and fading the gap intraday has been.. ..well, nothing to mention (at best -0,1% from open). We're outside of BB on the daily chart, a gap up that is not filled intraday tomorrow is unlikely.
First important support: 12180-ish (look for 12140/50 if broken).
First important resistance: ..remains to be seen but guessing on 12250/70/300..
Disclosure:
Position balance: net short
Short term plan: look to exit shorts tomorrow @open +2h
Mid term plan (2-5 days): exit longs @12250 & 12270 & 12300
Long term plan: N/A (guessing both SPX & DAX will be range trading for +1 month)
I'm guesstimating a corrective move down in the next ~5 trading days. We might have to pop a bit higher (~12270 - 12300) to kill some short stops but a corrective move is to be expected very soon.
DAX have now gapped up two days in a row and fading the gap intraday has been.. ..well, nothing to mention (at best -0,1% from open). We're outside of BB on the daily chart, a gap up that is not filled intraday tomorrow is unlikely.
First important support: 12180-ish (look for 12140/50 if broken).
First important resistance: ..remains to be seen but guessing on 12250/70/300..
Disclosure:
Position balance: net short
Short term plan: look to exit shorts tomorrow @open +2h
Mid term plan (2-5 days): exit longs @12250 & 12270 & 12300
Long term plan: N/A (guessing both SPX & DAX will be range trading for +1 month)
