OSB Daily Technical Analysis for December 9, 2014

The S&P sold off slightly on Monday finding support in the 2050 area close to the 20 DMA. The S&P pullback is likely to find further support below in the 2030-45 area. Market remains in strong bullish mode.

The Dow followed through general market sentiment and sold off finding support at 17800. Further correction to ensue with support below at 17750.

 

Strong sell-off in the FTSE which broke below the 20 DMA on Monday. Increase in volatility suggests indecision about further direction in the FTSE with likely range bound action to follow. Support below at 200 DMA at 6620 area.

 

The DAX sold off but managed to remain above the 10K mark which is now support for the index. The DAX remains in bullish mode but is likely to pull back further as general market sentiment turns somewhat sour for the moment.

 

The Nikkei broke out making a new high on the day as it continues its upward trajectory. Strong bullish bias intact with new highs imminent. Pull backs continue to act a entry points for bullish traders.

 

 

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