Tradeciety
Short

Indexes selling off - strong

INDEX:NKY   Nikkei 225 Index
77 4 1
The DAX             showed a major gap into its support level.

The S&P             made its first attempt breaking his major level at 1860. Expect to see some more opposition before it breaks. This level is an important one so unless a catalyst accelerates the sell-off, we could stay here for a few days.

The Hang Seng is breaking lose after the consolidation.

The Nikkei is tanking heavily.

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Even though we have seen markets selling off for some time now, this could only be the start as there is a lot of room for corrections across all markets. Especially when the S&P             breaks its level and with more negative developments from China, this could get ugly soon.

Related Ideas

tradir91
10 months ago
Hi! It seems that you use EOD charts, if Im right, that means "end of day" value? Could you please explain why EOD instead of realtime charts? Thank you!
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Tradeciety PRO tradir91
10 months ago
hello Tradir,
yes, you are correct. I don' actively trade indexes and only use them as a general barometer for risk sentiment so EOD works fine. I live in Asia so when I start my day, I just take a look at US and Europe to see what has happened. I do check Shaghai Composite real-time charts these days - but this index is not provided by Tradingview. Or maybe I am missing it?!

Rolf
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venkat
10 months ago
nice analysis can you cast some light on indian index CNX NIFTY, nifty trading between -80 to -100 MO, bottomed out sir?
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Tradeciety PRO venkat
10 months ago
Hello Venkat. Thanks for your comment. I don't follow the Nifty.
In Tradingview I just post my daily analysis I do anyway for my own trading.

Rolf
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