Monday December 8: OSB Daily Technical Analysis – Indices 

OSB Daily Technical Analysis for December 8, 2014

The S&P broke a new high followed by a retreat which eventually saw the pair close almost at par with the previous days session. S&P remains strongly bullish with no signs of a market top as of yet. 2100 is a likely and realistic target for now.

New all time high for the Dow on Friday as it edges ever closer to the 18000 level. The Dow continues its upward trajectory with limited resistance from sellers who are thin on the ground.

The FTSE 100 rallied on Friday hitting a ceiling in the 6750 area which appears to be strongly resistive. FTSE likely to consolidate at it prepares for another push higher with a test of recent highs. Support beneath at 6670-90.

Bullish day for the DAX which closed above the 10000 level opening up the space for higher grounds. The DAX is heavily biased to the upside at the moment with short term resistance at the 10100 level. Longer term this market is likely to target 10400-500. Strongly bullish with heavy volatility at times.

Positive day for the Nikkei which edged higher on Friday making a new high flirting imminently with the 18000 mark. Pull backs likely to be short lived with support beneath at the 17820-50. Bullish bias with no top in sight.

 

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