Market Update - SPX, DAX, FTSE100, CAC40

TL;DR

Eddie Topic provides technical analysis of stock index futures, including the U.S. SP futures, German DAX futures, UK FTSE futures, and French CAC 40 futures.

Transcript

hello my name is Eddie topic I'm head of technical analysis and senior Markets analyst at ADM investors international limited I'd like to go from some stock index futures with you the first one I like to look at is the u.s. SP futures contract here we have a third gapping move higher and bullish opening white marubuzo yesterday though it was on the... Read More

Key Insights

• 😀 The U.S. SP futures contract shows a bullish move but faces resistance at recent highs.
• 🔐 The German DAX futures index indicates a potential bearish Head and Shoulders pattern, with recent closes above key levels posing a risk.
• 🫰 The UK FTSE futures index remains indecisive, with resistance levels limiting its bullish potential.
• 🫥 The French CAC 40 futures contract displays a bullish pattern but faces resistance at upper channel lines.
• 🫰 Technical analysis suggests the importance of support and resistance levels in stock index futures.
• 🛟 The long moving average serves as a significant support level.
• 🔐 Recent closes above key levels can challenge bearish patterns.

Questions & Answers

Q: What is the next support level for the U.S. SP futures contract?

The next support level is the long moving average, which currently stands at 27:53.

Q: What does the potential bearish Head and Shoulders pattern in the German DAX futures index suggest?

This pattern indicates a possible drop of about eighteen hundred and fifty points, with an ultimate target around 9700. However, recent closes above key levels pose a risk to this pattern.

Q: What are the resistance levels for the UK FTSE futures index?

The overhead resistance includes the 50 cent Fibonacci level at 71.80 and the 57 Fibonacci level at 71.16, which need to be considered.

Q: What is the significance of the bullish engulfing pattern in the French CAC 40 futures contract?

The bullish engulfing pattern, along with a long white marubozu, suggests a positive trend. However, resistance levels at 54.21 and 52.60 need to be monitored.

Summary & Key Takeaways

• The U.S. SP futures contract has experienced a bullish move, reaching recent highs but facing resistance. The next support level is the long moving average.

• The German DAX futures index shows a potential bearish Head and Shoulders pattern, but recent closes above key levels pose a risk to this pattern.

• The UK FTSE futures index is indecisive, with resistance levels limiting its bullish potential.

• The French CAC 40 futures contract displays a bullish pattern and is still within its 2019 bull channel, but resistance levels need to be monitored.