Hello everyone,
In this post I'm going to present my current analysis of most interesting markets:
- DJIA;
- DAX;
- SP500.
SP500 Index
Before you read this post asked to read first from my previous entries for the SP500 Index. It would be best to click on the right side of the tab on the index or to simplify enclose my last two entries about my point of view, where we are in the chart and what is actually happening.
technical analysis of SP500; 14th May 2014
what is actually happening; 8th June 2014
I would, however, focus only on the growth wave B has just shown in the entry in May. According to the assumptions one of the correction of irregular whose task it was to arrive at a new highs. The market took this assumption very seriously and generated movement up 60 points.
According to the analysis of the upward wave B should consist of waves A-B-C of second order. In addition, wave A, and wave C of the correction should clearly show the 5 wave arrangement, characteristic for the major trends.
Below, my analysis of this movement.
Pink rectangle shows the levels of the price for which wave C has the same coverage as wave A. These levels should work as a resistance against further increases.
DJIA Index
Currently, the Dow Jones index showed a tapered cone, consisting of five waves A-B-C-D-E. In addition, as the chart below shows, was made a trap for buyers by breakout up from the cone. Yellow circle. Then the market decided to turn back.
Exit by down form the cone show on the chart the market should realize the scenario pro downward.
DAX Index
Regarding the German DAX index chart shows significant resistance which is a red rectangle that shows the levels of 9950 points. In my opinion this is an important resistance and in the near future should be the levels at which the market potential should be in trouble.
In case of the negative scenario for these markets, the DAX should also show weakness.
technical analysis of SP500; 14th May 2014
what is actually happening; 8th June 2014
I would, however, focus only on the growth wave B has just shown in the entry in May. According to the assumptions one of the correction of irregular whose task it was to arrive at a new highs. The market took this assumption very seriously and generated movement up 60 points.
According to the analysis of the upward wave B should consist of waves A-B-C of second order. In addition, wave A, and wave C of the correction should clearly show the 5 wave arrangement, characteristic for the major trends.
Below, my analysis of this movement.
 |
| chart 1. technical analysis of fSP500 Index, H4, 2014-06-24 |
Pink rectangle shows the levels of the price for which wave C has the same coverage as wave A. These levels should work as a resistance against further increases.
DJIA Index
Currently, the Dow Jones index showed a tapered cone, consisting of five waves A-B-C-D-E. In addition, as the chart below shows, was made a trap for buyers by breakout up from the cone. Yellow circle. Then the market decided to turn back.
 |
| chart 2. technical analysis of DJIA Index, Daily, 2014-06-24 |
Exit by down form the cone show on the chart the market should realize the scenario pro downward.
DAX Index
Regarding the German DAX index chart shows significant resistance which is a red rectangle that shows the levels of 9950 points. In my opinion this is an important resistance and in the near future should be the levels at which the market potential should be in trouble.
 |
| chart 3. DAX Index, H4, 2014-06-24 |
In case of the negative scenario for these markets, the DAX should also show weakness.
If you did not understand any issues or have any questions, feel free to write e-mails. All questions I will try to answer.
best regards,
oscarjp
best regards,
oscarjp
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects oscarjp-chrimatistikos current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.
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