Nasdaq 100: New high follow-through on an equal weight basis!

Nasdaq 100: New high follow-through on an equal weight basis!

Both the Nasdaq 100 index and the Nasdaq 100  equal weighted index both hit new highs! Front end of the cloud is a key support zone in the current rally!

Expect a short-term consolidation to key support areas. Top end of the cloud remain a key support zone!

Xetra Dax 30: Digging into cloud chart resistance!

Xetra Dax 30: Digging into cloud chart resistance at bottom end of the cloud! Key resistance levels to watch : 12656 top end cloud resistance zone!

FTSE100: Fighting cloud chart resistance zone!

FTSE100: Fighting cloud chart resistance zone at bottom end of the cloud chart level:7638! consolidation risk remain high if resistance holds at this level. Need to see a breakout past cloud chart resistance with the next resistance level after that will be the top end cloud level of 7706!

Front end of the cloud still indicate that a downtrend remain in place!

BTCUSD: Bitcoin: Trading below the cloud, still in a confirmed downtrend!

BTCUSD: Bitcoin: Trading below the cloud, still in a confirmed downtrend!

Price action is still taking place below the cloud chart, and this confirms the negative outlook.

Front end of the cloud has not yet turned positive. 

Bottom cloud chart levels at 6427/7878 are key resistance zones. There are short-term retracement trading opportunities from key support levels back up to the bottom of the cloud, but the overall trend remains down for now. 

Key support zones are 5735/5414!

S&P500 Index: SPX close to major resistance zone:2872!

S&P500 Index: SPX close to major resistance zone:2872!

SPX rallied strongly after finding support at old cloud chart support zones 2573. There was a secondary buy signal at cloud support test of 2643. The index is now close to old high resistance zone of 2872. If resistance holds, index can consolidate back down to 2800/2777 cloud support levels.

Consolidation risk remain high at these elevated levels!

DJI Dow Jones Index: Great rebound from cloud support, but facing resistance:25563

DJI Dow Jones Index: Great rebound from cloud support, but facing resistance at a key 25563 zone.

The index rebounded strongly from the cloud chart support zone at the bottom end of the cloud: 24215! After a 1343 point rally, the index is now at a key resistance level, the old high of 25563!

A breakout past here, could activate the next key resistance zone at 25971! Fail that, downside risk towards the top end cloud chart support zone at 25038, and bottom cloud level of 24844 zones!

Critical week ahead!

Xetra Dax Rebounded from cloud support zone:12186!

Xetra Dax Rebounded from cloud support zone:12186!

If support holds here, we should see short-term upside to the bottom end of the cloud chart resistance zone: 12463/12640. But DAX is not out the woods yet, price action is below the cloud, and this indicates that a downtrend is in place.
Downside risk : 12070!