OSB Daily Technical Analysis for October 3, 2014

S&P 500 Volatile day for the S&P 500 which dropped to 1918 intraday. The intraday bounce and yesterday’s action suggests the recent sell-off might be over at least for now. A close above 1950 and further above at 1970 put the bulls back in control.

Dow 30 Dow sold off on Thursday but managed to recuperate some of the losses only to close the day down by 26 points. A bounce likely in the next several sessions following four consecutive negative days. Bullish bias remains intact for now however cautious.

DAX 30 DAX sell-off continued on Thursday firmly putting the index in bearish territory. Support below at 9080 and much firmer support at 9000 which is likely target during this down move. Resistance above at 9430.

FTSE100 FTSE closed at key support level of 6450. Recent sell off over the past two weeks has seen the pair lose almost 300 points. A bounce back is imminent however likely to be short lived. A test of January lows in the 6350 area likely. Bearish.

 

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