Dax 40 December longs at very strong support at 15750/700 worked perfectly.
EuroStoxx 50 December we wrote: just completed a head & shoulders reversal pattern for a sell signal initially targeting 4310/00 then 4270/60 (a low for the day here), perhaps as far as strong support at 4240/30.
That call could not have been more accurate with a low for the day at 4240/30. A potential profit of up to 100 ticks.
FTSE 100 December broke minor support at 7260/40 but held 18 ticks above the buying opportunity at 7170/50
Update daily at 07:00 GMT
Dax longs at strong support at 15750/700 worked perfectly on the bounce with resistance at 15950/16000 for some profit taking. Strong resistance at 16050/100. Shorts need stops above 16150. A break higher keeps bulls in control for today targeting 16260/280. A break above 16290 should target 16350/390.
Minor support at 15880/860. Very strong support at 15750/700. Longs need stops below 15650. A break lower meets the best support for this week at 15575/525.
EuroStoxx shorts work on the slide to strong support at 4240/30 with a low for the day here so longs also worked perfectly on the bounce to 4300/10. This is the only resistance of the day. Shorts need stops above 4320. A break higher targets 4340/50.
Holding resistance at 4300/10 targets 4280/70 before a retest of strong support at 4240/30. Longs need stops below 4220. A break lower is a sell signal.
FTSE shot higher to the 7300/10 target as I write this morning, perhaps as far as 7335/40 later on today, before a retest of 7380/90.
Minor support again at 7260/40 before a buying opportunity at 7170/50 with stops below 7135. A break lower targets 7100/7090, perhaps as far as 7040/30.
Emini S&P December bearish engulfing candle is likely to signal sideways trend so ease severely overbought conditions, although my first support at 4670/68 was not accurate because we over ran again to 4656.
Nasdaq December longs at best support for the day at 16230/180 worked as we held above 16100 for a bounce to first resistance again at 16400/450.
Emini Dow Jones December shorts at first resistance at 35850/950 worked perfectly with a high for the day here, followed by buying in to longs at strong support at 35450/350 & a low for the day here. Perfect calls!!
Update daily at 07:00 GMT.
Emini S&P seeing a recovery as expected reaching very minor resistance at 4700/10 but above here retargets 4720/23 & 4735/40 then 4750.
I am still expecting the downside to be limited with first support at 4670/60 . Longs need stops below 4650. Next target & better support at 4630/20. Try longs with stops below 4615. The best support at 4600/4395 this week - stop below 4385.
Nasdaq December up to 200 ticks profit on our longs as we hit first resistance again at 16400/450. Shorts need stops above 16500. A break higher targets 16550/600 before a retest of the all time high at 16630/767.
Best support for today at 16200/160. Try longs with stops below 16100! Hopefully that gives us enough room. A break lower however sees 16180/230 working as resistance to target 16030/010 before a buying opportunity at 15900/850. Try longs with stops below 15750.
Emini Dow Jones December longs at at 35450/350 worked perfectly on the bounce to first resistance at 35850/950 for an easy 400 tick profit. A break above 36000 should be a buy signal targeting 36230/250.
Minor support at 35750/700 but below here targets 35600. Strong support again at 35450/350. A break lower however targets 35100/35000. Watch for a bounce from here on the first test. However a break lower meets a buying opportunity at 34800/750, with stops below 34650.
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