OSB Daily Technical Analysis for November 3, 2014

S&P 500 The S&P 500 rallied to a new all-time high on Friday clearing the 2000 area with ease. The index is now in uncharted territory and is likely to correct, consolidate in the next several sessions. With that in mind dips are likely to be bought into as the market appears very bullish.

Dow 30 The Dow broke out on Friday following through with the general bullish sentiment in the markets. The climb above the 17350 mark and new all-time high suggests that this bull market has more room to run. Bullish.

DAX 30 The DAX gapped up on Fridays trading session and has now covered 900 points since its recent lows in mid-October. The index is now just beneath the 200 DMA which it is likely to clear as bullish momentum remains on the rise. Resistance above at 9480.

FTSE100 The FTSE rallied on Friday and found resistance at the 6520 mark. Further resistance above at 6540-80. A close above extends back above the 6600 area.

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