OSB Daily Technical Analysis for November 18, 2014

Consolidation day for the S&P 500 without much real direction. Market likely to grind away at this level as it gathers strength for a move higher. A close above recent high extends to new highs. Well supported below in the 2030 area.

Sideways action with very little by the way of direction in the Dow. Market consolidating and likely to hover in this area for now. Correction and pull back at this level to be expected.

FTSE looking bullish and ready to go higher after closing above resistance in the 6660 area. 20 DMA looking to cross over the 50 DMA which confirms bullishness in this market. A close above 6700 extends to 6750 in the medium term.

Dax bounce on Monday after testing support in the 9160 area. Volatility increasing in the index as it tries to head higher. Momentum pick up likely to cause increase in volatility as DAX looks to break through the 200 DMA and 9450 area.

Nikkei sold off hard finding support in the 17000 area. Trend remains bullish and a bounce is likely following the sharp sell off. A close above 17200 needed to retain upside momentum.

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