OSB Daily Technical Analysis for October 8, 2014

S&P 500 sold off and found support at 1924 with the 20 DMA crossing below the 50 DMA. This is bearish for the index and begs the question: is this a correction or are the tides turning? Some bounce back likely, resistance in the 1940 area. Cautiously neutral.

Dow 30 Big sell-off in the DOW with the 20 DMA just about to swing below the 50 DMA. Further support below in the 16530 area.

DAX 30 DAX is in clear bear territory after four consecutive down days. A test of support at 9000 and August lows is likely with some bounce also to be expected. Bearish.

FTSE100 FTSE 100 sold off on Tuesday losing 100 points off the index. Support below at 6400 and further below at 6350. Bearish.

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