The DAX Futures is trading at 12,002.50 up with +0.51% percent or +60.70 point.The FTSE 100 Futures is trading at 7,237.30 up with +0.27% percent or +19.80 point. The CAC 40 Futures is trading at 5,281.37 with a loss of -1.81% percent or -97.60 point. The EURO Stoxx 50 Futures trading at 3,328.00 up with +0.48% percent or +16.00 point.
TODAY’S FACTORS AND EVENTS
the DAX index from Germany about to send a bearish message to stocks in Europe and the States? Sure could!
This chart looks at the DAX over the past 9-years. It’s spent the majority of the past 8-years inside of rising channel (1), creating a series of higher lows and higher highs.
It looks to have created a “Double Top” as it was kissing the underside of the rising channel last year at (2).
After creating the potential double top, the DAX index has continued to create a series of lower highs, while experiencing a bearish divergence with the S&P 500.
The rally off the bottom of rising channel (1) hit falling resistance at (3), which looks to be near the top of a potential bearish rising wedge
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 25,490.47 with a loss of -1.11% percent or -286.14 point. The S&P 500 is trading at 2,822.24 with a loss of -1.19% percent or -34.03 point. The Nasdaq Composite is trading at 7,628.28 with a loss of -1.58% percent or -122.56 point.
In other parts of world, Japan’s Nikkei 225 is trading at 21,117.22 with a loss of -0.16% percent or -33.92 point. Hong Kong’s Hang Seng is trading at 27,390.77 up with +0.45% percent or +123.64 point. China’s Shanghai Composite is trading at 2,855.55 up with +0.11% percent or +3.04 point. India’s BSE Sensex is trading at 39,094.22 up with +0.73% percent or +282.83 point at 12:15 PM.