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Dax 40 December futures momentum is clearly negative as we break the July low at 12380/360. Yesterday we made a high for the day only 35 ticks above first resistance at 12350/400 before prices collapsed as expected. We appear to have formed a 9 month descending triangle pattern & have broken the lower trend line. Yesterday we formed a bear flag so a break below 12000 is the next sell signal. FTSE 100 December futures held Monday's range so same levels apply for today but we are breaking lower over night. Remember when support is broken it usually acts as resistance & vice-versa. Update daily by 06:00 GMT. Today's Analysis. Dax December broke support at 13100/13000 for a sell signal, then 3 month trend line support at 12700/650 for another sell signal & now the July low at 12380/360 for a new sell signal. Yesterday we made a high for the day just above first resistance at 12350/400. Then we crashed below 100 month MA support at 12200/150. As I warned you, the last 3 times this MA was tested, it did not hold, in 2009, 2011 & 2020. So now we have broken below 12000 (not a surprise!) & could drop quickly to 11700/700. Gains are likely to be limited of course in the bear trend with resistance at 12100/12200. Shorts need stops above 12300. FTSE December hit 500 day moving average support at 7020/7000 but we have 2 year 38.2% Fibonacci support & June low at 6950/6910. Longs need stops below the 500 week moving average at 6850. A break lower is a major medium term sell signal. Bulls need a break above minor resistance at 7080/7100. A break higher meets strong resistance at 7160/80. Shorts need stops above 7210.

Stock index contracts are falling today as consumer sentiment declines. This time it's consumers from Europe's largest economy, Germany, where a record of pessimism has been set. Sentiment in Germany vs. DAX quotes Germany's GfK consumer climate index fell to -42.5 in October 2022 from -36.8 the previous month, reaching a new record low. This is the fourth consecutive decline, which was worse than market forecasts had predicted. The latest reading highlighted growing concerns over rising inflation and high energy prices, as well as persistent fears of recession, with income expectations falling to a new record low (down 22.4 points to -67.7), according to data released by GfK Group. Economic expectations also fell 4.3 points to -21.9, reaching their lowest level since May 2009. Meanwhile, willingness to buy fell 2.8 points to -19.5, the lowest level since October 2008, marking the eighth consecutive month of declines. "The current very high inflation rate of almost eight percent is leading to large losses in real income among consumers, and thus a significant reduction in purchasing power," - Rolf Bürkl, GfK consumer expert, said. Source: Conotoxia MT5, DE40, H4 With sentiment weakening, but also with increasing chances of further interest rate hikes whether in the United States or the Eurozone, as well as a perceived energy crisis looming this winter, the German DAX index's stock price has set new local lows. At 10:19 GMT+3, the DE40 was down 1.15 percent and at its lowest level since November 2020. That's when the markets were hit by the autumn wave of the covid outbreak, and moments later a new upward wave followed with news of a successful vaccine. Then the bottom was established in the 11500 point area, and it seems that it could be a potential support for DE40. London Stock Exchange quotes It is impossible not to mention the UK stock market, which seemed to defend itself from declines for a long time. Now, however, the FTSE100 index, too, may be heading south. The UK100 instrument on the Conotoxia MT5 platform is down 1 percent to 6898 points as of 10:23 GMT+3. This week, Britain's main index hit its lowest level since March 2022. Source: Conotoxia MT5, UK100, W1 The London Stock Exchange appears to be under pressure from lingering concerns about the country's economic outlook, exacerbated by a lack of commitment to fiscal discipline. The budget plan of the UK's new finance minister Kwasi Kwarteng, which includes historic tax cuts and a massive increase in debt, has been met with strong opposition from the International Monetary Fund and the Moody's rating agency. If it is implemented, it is possible that the UK could experience a rating cut. Did you know that CFDs allow you to trade on both falling and rising prices? Derivatives make it possible to open buy and sell positions and thus trade on both rising and falling quotes. At Conotoxia, you can choose from CFDs and DMA CFDs on more than 4,000 shares of companies listed on stock exchanges from all over the world. To find a CFD or DMA CFD on a stock, all you need to do is follow 4 simple steps: To access Trading Universe - a state-of-the-art hub of financial, information, investment and social products and services with a single Smart account, register here. Click "Platforms" in the "Invest&Forex" section.Choose one of the accounts: demo or live On the MT5 platform, search for the CFD action you are looking for and drag it into the chart window. Use the one-click trading option or open a new order with the right mouse button. Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. Stock market news: Worse consumer sentiment and poor stock market sentiment (conotoxia.com)

Dax and FTSE 100 Dax 40 December futures shorts at resistance at 12900/950 offered a little profit on the slide to 12804, but we did not reach support at 12780/740. FTSE 100 December bouncing around with no clear direction. Today's Analysis. Dax December has now bounced back above resistance at 12900/950 & could target 13200/250. We should struggle to beat this level here today but shorts are probably too risky. If we continue higher look for 13370/380. Read next: NASDAQ Futures Down More Than 1.5%, Xi Jinping Pushes Out Youth League Members From Politburo, Spotify Users Up 20% YoY| FXMAG.COM Strong support at 12950/900. Longs need stops below 12850. FTSE December bounces back to resistance at 7000/7020. A break above this week's high at 7054 targets strong resistance at 7110/20. First support at 6900/6880.

FTSE 100 December reversed from the 7190/7200 targeting minor support at 7170/50 then strong support at 7110/7090 with a low for the day exactly here. Longs need stops below 7070. Today's Analysis. Dax December broke the 3 week rising trend line, from the October recovery - a counter trend move. So it is likely that the 2022 bear trend has resumed. However best support at 13150/100 today. Holding here allows a recovery to first resistance at 13250/350. Shorts need stops above 13400. First support at 13150/100 but longs need stops below 13050. A break lower targets second 12950/900. A break below 12850 is a medium term sell signal & confirms the resumption of the bear trend. A weekly close below tomorrow night is further confirmation of course. FTSE December a low for the day exactly at strong support at 7110/7090. Longs need stops below 7070. A break lower is a sell signal targeting 7030/20 then 6970/60. Longs at strong support at 7110/7090 can target 7180/90.

USDJPY holds steady The US dollar edged higher after November’s PPI beat estimates. Sentiment remains fragile after the price made a U-turn at 137.80, which was a brief support in the previous consolidation. Some buying interest has emerged from 135.40 with the RSI returning to the neutral area. A break above 137.80 would extend gains to the top of a faded rebound at 139.70. Only its breach could lighten up the mood and attract more buyers. On the downside, 133.70 would be a critical floor to keep the current bounce valid. EURCHF pulls back The euro retreats ahead of the ECB interest rate decision. On the daily chart, the single currency is still consolidating its gains after breaking above September’s high of 0.9850. The supply zone near the recent peak (0.9940) seems to be a hard hurdle to clear. The choppy price action is a sign of hesitation due to a lack of catalyst. 0.9820 is the closest support and the RSI’s oversold condition may attract some bargain hunters. A bounce above the psychological level of 0.9900 could trigger a sustained recovery. Read next: What’s more worrisome is the fact that we will continue to learn of all of the contagion and aftereffects of the FTX collapse in the coming weeks and months. | FXMAG.COM GER 40 struggles for support The Dax 40 fell back as traders took profit ahead of a data-intensive week. The bulls have struggled to lift offers around June’s peak of 14650. Instead, a fall below 14350 prompted short-term buyers to take some chips off the table. The former demand zone around 14400 has become a supply one, and more sellers would join the rank if the buy side fails to reclaim it. The recent low of 14150 sits on the 30-day moving average and is a major support. The index could be vulnerable to a deep retracement should it be pierced.