The DAX Futures is trading at 11,918.80 up with +0.21% percent or +24.80 point. The FTSE 100 Futures is trading at 7,363.20 with a loss of -0.07% percent or -5.30 point. The CAC 40 Futures is trading at 5,449.80 up with +0.36% percent or +19.30 point.The EURO Stoxx 50 Futures trading at 3,356.00 up with +0.18% percent or +6.00 point.
TODAY’S FACTORS AND EVENTS
DAX bottomed exactly at short term Fibonacci support at 11880/870 as I write but we have not seen a bounce from here. Longs need stops below 11850. A break lower targets 11800/790 then minor support at 11770/760. Best support this week at 11720/710.
Holding short term Fibonacci support at 11880/870 allows recovery to 11910/920 then 11945/955. Gains are likely to be limited but expected minor resistance at 11990/200 then 2.5-month trend line resistance at 12050/060 is key to direction.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 26,150.58 with a loss of -0.72% percent or -190.44 point. The S&P 500 is trading at 2,878.20 with a loss of -0.61% percent or -17.57 point. The Nasdaq Composite is trading at 7,909.28 with a loss of -0.56% percent or -44.61 point.
In other parts of world, Japan’s Nikkei 225 is trading at 21,687.57 with a loss of -0.53% percent or -115.02 point. Hong Kong’s Hang Seng is trading at 30,111.64 with a loss of -0.15% percent or -45.85 point. China’s Shanghai Composite is trading at 3,241.93 up with +0.070% percent or +2.27 point. India’s BSE Sensex is trading at 38,732.22 with a loss of -0.53% percent or -207.00 point at 12:15 PM.