OSB Daily Technical Analysis for October 6, 2014

S&P 500 broke out on Friday possibly commencing a new up leg. A close above the 50 DMA at 1970 likely to confirm this and open up the way towards a test of the 2000 level. Bullish.

Dow 30 Dow rally on Friday essentially made up previous two sessions losses testing resistance at the 50 DMA. Market likely going higher with a recapture of the 17000 area very likely.

DAX 30 The DAX continued lower on Friday somewhat cementing it bearish bias and testing the 9200 area intraday. Support remains at this level and a close below extends price to 9100. Bearish.

FTSE100 bounce back on Friday closing exactly at the 6500 mark after four consecutive losing sessions. This bounce likely to continue and ultimately test 6550 resistance level prior to facing some push back. Bearish.

 

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