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This is a discussion on Stock Market within the Trading Systems forums, part of the Trading Forum category; The current chop is taking on the shape of a bull-flag and looks poised to break soon, but may need ...

          
   
  1. #61
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    DAX: Bull-flag Consolidation Taking Shape

    The current chop is taking on the shape of a bull-flag and looks poised to break soon, but may need a day or two more of filling out first. The first level of contention on a push higher comes in quickly at the 1/3 swing high at 11637, and upon breakout the DAX will begin looking to test a series of swing highs created during the descent from the record high in 2015. Top-side levels in focus: Aug ’15 – 11670, Jul ’15 – 11802, and May ’15 – 11920.

    Stock Market-de-30-d1-g-e-b.png


    Should the recent backing-and-filling turn into something more aggressive, we will look to the top of the late-December channel at 11481 and bottom of the channel around 11400 as key points of support. It would be important to hold onto the low end of that channel and the low of the day (1/2) which began the year. A drop below 11400 would be damaging for prospects of higher prices, and warrant a shift in bias towards lower prices.
    But for now, the DAX is acting well, global risk appetite remains relatively healthy, so we will roll with the notion of seeing higher prices in the not-too-distant future.

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  2. #62
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    Stocks Rise As Trump Inaugurated As America's 45th President

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    Investors will be listening closely for what Trump has to say in his speech.

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  3. #63
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    CAC 40 Advances For Third Session

    CAC 40 continues to move higher for Thursdays trading (+0.03%), after bouncing from yearly lows earlier in the week. If today’s session closes higher, it would mark the third consecutive daily rally for the Index after finding support above 4,800.00 on Monday. Top winners for the CAC 40 include Nokia (+3.28%) and Pernod Ricard (+2.34%). Today’s top losses for the CAC 40 include Saint-Gobain (-1.34%) and Airbus (-1.16%).

    Technically the CAC 40 is rebounding off of support found at the weekly low, but the Index has yet to breakout to new significant 2017 highs. Before the Index can continue to rally, the CAC 40 must next break through the psychological 4,900.00 level. This level was tested earlier this morning, but prices were quickly rejected here. If the CAC 40 fails to breakout higher, it may suggest a change in market momentum and open prices to retest the 2017 low.

    CAC 40, Daily Chart

    Stock Market-cac40-d1-alpari-international-limited.png


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    DAX Gearing Up for New Highs

    Levels to watch on the top-side start with the Jan high at 11893, and then just above there we have to go back to a swing high created in May 2015 at 11920 and a month before that at 12079. We’ll focus first on those levels, worry about the record 2015 high at 12391 later should ‘momo’ really kick in.

    DAX: Daily

    Stock Market-de-30-d1-g-e-b.png


    Looking to the hourly chart, the surge starting last week is morphing into a sharply angled channel which could help keep short-term traders guided on the right side of the tape. Even if it were to break the structure a bit by moving outside of it, as long as higher highs and higher lows continue to etch themselves out then there isn’t good reason to be a hero here trying to find a top. Again, though, for day-traders it’s a different story, but will still likely to find it easier to be on the bid rather than the offer for the time-being.

    Hourly

    Stock Market-de-30-h1-g-e-b.png


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  5. #65
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    Earnings Scorecard: Nvidia

    Stock Market-nvda-us-d1-g-e-b.png


    In Q4 2016, NVIDIA earned $0.99 per share on revenue of $2.2 billion. The Street's estimate was $0.83 per share on revenue of $2.1 billion. The Whisper number was $0.87/share. This leading stock continues to enjoy healthy earnings and is a leader in its space.

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  6. #66
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    DAX Technical Formation Points to Explosive Move Soon

    This week the DAX put the December trend-line to the test, teetering on the brink of breaking it over the course of the past two sessions. But so far, so good. The outcome from yesterday’s ECB meeting was relatively benign and thus had limited impact on financial markets – namely the euro and European equity indices.

    Stock Market-de-30-d1-g-e-b.png


    With this week’s hold of the trend-line rising up from the December swing low, further importance has been added to its presence since the last test at the end of February. It’s our ‘line-in-the-sand’ as far as we are concerned. A close below the trend-line and the most recent swing low at 11918 would quickly switch us from bull to bear.
    Running with the notion of higher prices, what lies ahead? Those ‘pesky’ top-side trend-line running higher off a pair of peaks in 2016 still remain in the way of reaching record highs near 12400.

    For now, we are running with support acting as, well, support. It is until it isn’t. But the DAX will soon be facing off with resistance in the form of the Feb high of 12082 and then the top of the rising wedge/2016 trend-lines. As far as the rising wedge goes, we will go with which ever direction it breaks – a pattern to react to, not predict.
    DAX: Daily

    [image]

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  7. #67
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    S&P 500 Technical Outlook Remains Constructive

    The market may not rip to new highs in the same fashion it did in February, and in fact it may meander side-ways for a period of time (a process which could serve the market well given how far it has come in such a short period of time). As long as those trend-lines hold and we don’t see a sharp break through them develop, we look for short-term weakness to find buyers. A close below the confluence of trend-lines and then ultimately a lower low below 2353 would be required to tilt the picture downward.

    Stock Market-us-500-d1-g-e-b.png


    Looking higher, the next true level of resistance doesn’t arrive until the previous record high of 2401.
    Next week is light in terms of scheduled economic events, so the market will likely be driven on good old fashioned supply and demand – markets don’t need a big reason to move.

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  8. #68
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    DAX Short-term Trading Outlook: More Weakness Ahead

    Should the market get a little pep in its step, we’re looking to 12050 as resistance, and then the underside of the broken channel, which at this time comes in at over 12100. On the hourly chart the DAX is running lower in a descending channel, which we will use as a short-term guide; stay below the upper parallel and a bearish bias remains intact, while a jump above will warrant consideration for alternative paths. The lower parallel may act as minor support with further selling, but the next significant swing point comes in at 11850, with 11916 as a possible stopping point along the way. Below 11850, we look for 11722 to come into play.

    Stock Market-de-30-d1-g-e-b.png


    All-in-all, the game-plan is to continue to focus on short-term entries from the short-side, but should the DAX violate the current bearish posturing we will be quick to change gears.

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