Dow Jones DJI Index: Rebound Rally Fighting Cloud Chart Resistance Zone...

S&P500 Index Futures: Grinding higher towards the next Cloud Chart resistance zones 4042/4238!

 S&P500 Index Futures: Grinding higher towards the next Cloud Chart resistance zones 4042/4238!

 S&P500 Index: Grinding higher towards the next Cloud Chart resistance zones the bottom end of the weekly CC: 4042, with the top end CC level of 4238 as another major resistance zone!

So far the rebound rally from the 3548 support zone yielded some great swing trades.  

The good news is that the S&P500 index is trading above the top end of the CC on the daily CC. This is bullish. As long as the price action remains above the Cloud the rally should be ok into the year end. 

DJI: Dow Jones Index rebound rally running into Cloud Chart resistance! Critical week ahead!

 DJI: Dow Jones Index rebound rally running into Cloud Chart resistance! Critical week ahead! 

DJI: Dow Jones Index rebound rally running into Cloud Chart (CC) resistance at the bottom end of the weekly CC. Need to see a breakout past this level to change the outlook from bearish to bullish.  If resistance holds then expect a reversal back down to the front cloud support zones! 

If the DJI manages to break past the top end CC resistance then the outlook changes to bullish from bearish on the weekly CC. Critical week ahead!

Xetra Dax: Rebound rally up more than 2200 points since the Cloud Chart support rebound trade! DAX close to top end cloud chart 14351 resistance zone!

 Xetra Dax: Rebound rally up more than 2200 points since the Cloud Chart support rebound trade! DAX close to top end cloud chart 14351 resistance zone!

Moving into profit taking zone! Need to see a breakout past the top end Cloud Chart resistance zone for the Dax to change to bullish on the weekly CC.

NASDAQ Composite Index: Rebound rally heading towards major Cloud Chart resistance!

 NASDAQ Composite Index: Rebound rally heading towards major Cloud Chart (CC) resistance! 

The rebound rally now getting closer to major CC resistance at the bottom end of the cloud! Need to see a breakout past these cloud chart levels for the market to be back in bullish territory. Not out the woods yet! 

S&P500 Futures: Great rebound from key Cloud Chart support zones! Great news back above the top end of the Cloud! 4000 next key resistance zone to break past!

 S&P500 Futures: Great rebound from key Cloud Chart support zone! Great news back above the top end of the Cloud! 4000 next key resistance zone to break past!

S&P 500 index futures rebounded from the 3548 Cloud Chart (CC) support zone! More recently managed to rebound from the front CC support zones of 3749! S&P500 also managed to break past top end CC resistance zone of 3957! Now it is at a critical zone to find support at. Need to see a follow-through rally above the cloud now. Outlook is back in bullish territory on the daily CC as long as the S&P500 stays above this support zone! 

S&P500 index futures now need to break past the 4001/4042 old CC resistance zones!

On the weekly CC upside resistance targets are at the bottom end of the cloud at 4042 and 4161/4238 at the top end of the CC.

If support holds above the daily CC the rally can last up to the 4238 resistance zone! 

The last two rebound CC swing trades yielded 352 and 273 (625) points respectively!

DJI: Dow Jones Index 4500+ point rebound rally ran into Cloud Chart resistance! Downside risk to front cloud potential support zones!

 DJI: Dow Jones Index 4500+ point rebound rally ran into Cloud Chart (CC) resistance! 

Downside risk to front cloud potential support zones of 32106 then the standard line of the cloud at 31471 and if support fails there as well the next key downside risk zone is 31111 the front end bottom cloud support zone!

Price action is below the weekly cloud and that remains overall bearish! 

The DJI is still trading above the top end of the cloud on the daily CC and this is bullish. Potential support zones to be tested are 32217/31963 old CC resistance zones, if support fails there then downside risk towards the top end of the front end of the cloud at 31482 where we can see a rebound if support holds and then a rally into the year end.