OSB Daily Technical Analysis for September 30, 2014

S&P 500 Close below the 50 DMA for the S&P 500 on Monday. Down move found support at the 1955 level. Correction likely to be short lived with bias to the upside. A close below 1900 changes bullish bias.

Dow 30 Consolidation day with a close lower on Monday for the Dow 30. Support at 16875 with resistance at 17000. Bullish bias intact.

DAX 30 DAX closed just below the 200 DMA and looking bearish. Some bounce at this key level is likely. Overall DAX is bearish with support at the 9370 area.

FTSE100 FTSE dipped below 6600 intraday only to find momentum and close at 6615. Monday’s action suggests likely consolidation and bounce from these levels possibly to 6655 resistance area. A close above 200 DMA needed to build up bullish outlook.

 

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