From here there are supports every 20pts until 1960. Will need to drill through all of them. The path/speed is not clear. Especially with DAX so oversold.
Comments
Relja
⋅
Hi YaKa. Yes, SPX has supports just about everywhere... The most important one, IMO, is @ 2040, that needs to go away for your scenario to be played (which I would very much like, since it is a torture to trade US market with VIX @ $13).
DAX is oversold now, but it made almost 3,000 points YTD, so no surprise that it can fall more. This last couple of hundred points up, DAX moved on a very light volume, so there you go. Also, Greece soap opera affect Europe more than US, just like Ukraine before. Before Ukraine crisis, DAX and SPX was way more correlated, now with EUR so low it is not like that.
Trade safe, Relja
YaKa
⋅
100% agree.
UnknownUnicorn18331
⋅
Here is my bullish look for summer 2015
YaKa
⋅
Yes that is possible - where has gone your sarcasm? tuned down?
Markets are difficult enough like this dont make it harder on yourself, allow to be wrong, allow to lose money, avoid having been arrogant... because it does not help your position and add a non necessary element to your situation when things go wrong and really does not help when thing go right as you are rewarded with the money you made anyway.
UnknownUnicorn18331
⋅
Yes in my eye this pullback lock like a good bye uppertunity for the summer
I agree that the March low around SPX 2040 is very important support. A sustained break below that level, probably next week, would strongly support your chart. We should know within a week!
YaKa
⋅
It still is a good attempt short with stop at 2115.
DAX is oversold now, but it made almost 3,000 points YTD, so no surprise that it can fall more. This last couple of hundred points up, DAX moved on a very light volume, so there you go. Also, Greece soap opera affect Europe more than US, just like Ukraine before. Before Ukraine crisis, DAX and SPX was way more correlated, now with EUR so low it is not like that.
Trade safe, Relja