Thursday October 2: OSB Daily Technical Analysis- Indices

S&P 500 Further decline in the S&P 500 finding support in the 1930 vicinity. Further support below at 1922. A close below extends to the 1900 area. The S&P 500 sell off likely to take a pause and consolidate at these levels as the index looks for further direction.

Dow 30 Dow sold off and followed through with the general US market correction. The market cut through key support areas at the 16800 area and lost almost 200 points. The market is likely to bounce around here for now finding support at 16750 and further below at 16680. Neutral with resistance above at 16820.

DAX 30 A close below the 200 DMA for the DAX on Wednesday accompanied by a cross of the 20 DMA below the 50 DMA. This is bearish for the DAX and ultimately points to lower prices. Support at 9270 and resistance just above 9434. Bearish.

FTSE 100 sold off but managed to stay above the key 6500 level for now. Some bounce and consolidation at this key area is likely. Resistance at 6545. Bearish.

 

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