The DAX Futures is trading at 11,545.50 with a loss of -0.13% percent or -15.30 point.The FTSE 100 Futures is trading at 7,159.20 up with +0.18% percent or +12.90 point. The CAC 40 Futures is trading at 5,278.00 with a loss of -0.35% percent or -18.50 point. The EURO Stoxx 50 Futures trading at 3,316.00 with a loss of -0.12% percent or -4.00 point.
TODAY’S FACTORS AND EVENTS
Allowing for a little latitude on how you define the neckline of the 2017/2018 head-and-shoulders pattern, the DAX is currently trading around it. If the pattern is to play out to its full potential, then the market should begin turning down very soon. The March low from last year is also in rough confluence. This period right now may turn out to be crucial when we look back at it sometime later on.
The DAX is currently above the 2011 trend-line it broke in December, but given the larger topping pattern remains intact, it’s not viewed a strongly bullish recapture of broken trend support. A material push above the neckline of the H&S formation, though, will, and at that juncture the market may want to rise a significant way higher.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 25,673.46 with a loss of -0.52% percent or -133.17 point. The S&P 500 is trading at 2,771.45 with a loss of -0.65% percent or -18.20 point. The Nasdaq Composite is trading at 7,505.92 with a loss of -0.93% percent or -70.44 point.
In other parts of world, Japan’s Nikkei 225 is trading at 21,456.01 with a loss of -0.65% percent or -140.80 point. Hong Kong’s Hang Seng is trading at 28,883.59 with a loss of -0.53% percent or -154.01 point. China’s Shanghai Composite is trading at 3,121.81 up with +0.64% percent or +19.71 point. India’s BSE Sensex is trading at 36,672.41 up with +0.099% percent or +36.31 point at 12:15 PM.