OSB Daily Technical Analysis for October 10, 2014

S&P 500 sold off on Thursday finding support at the 1920 area. Further support below at 1900 is significant and break below suggests bears might be taking control of the market. Increased volatility I likely to continue as market uncertainty.

Dow 30 The Dow fell hard and followed suite with other US indices. The Dow is now at a key support area 16550. Further support below at 16510 which is also the 200 DMA. A close below changes bearish outlook. Cautiously neutral.

DAX 30 sliced through the key 9000 support area and dipped below 8900 intraday which is very bearish for the index. A close below this level is likely to entice more sellers to step into the market. DAX is now at 52 week lows. Bearish

FTSE100 dropped off the cliff on Thursday losing close to 150 points on the day and is now not too far from 52 week lows. FTSE is likely to see increased volatility in this area with some bouncing around and consolidation. Ultimately heading lower.

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