The ASX 200 has shown itself to be somewhat negative.
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The Parisian CAC 40 pulled back just a bit to show signs of weakness initially during the trading session on Monday, but then turned around to bounce back above the 200 day EMA.
It’s easy to see that this asset has plenty of support as we initially fell to kick off the Monday trading session, only to turn around and show buyers again.
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The ASX 200 pulled back into a consolidation area.
It’s obvious to me that we are reaching a major resistance barrier, looking at the €7700 level as a major ceiling.
The Dow Jones 30 initially tried to rally a bit during the trading session on Friday, but then gave back gains rather rapidly.
The S&P 500 was positive during the trading session again on. Thursday, but really at this point in time, it's a situation where traders continue to see a lot of buy on the dip mentality, the GDP numbers, in the United States came out hotter than anticipated.
The NASDAQ 100 has been somewhat noisy and negative, but really at this point in time, I think we do have enough support underneath to turn things around and we could go looking to the upside.
The CAC 40 is at a major inflection point.
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During my analysis of the NASDAQ 100 on Tuesday, the first thing I noticed is that we are bouncing around an area that has been important more than once.
In my daily analysis of the Dow Jones 30, the first thing I see is that the market does in fact look up little bit stagnant at this point.
In my daily analysis of the German index, I can see that the DAX is struggling a bit to continue going higher.
It’s worth noting that the market is now pressuring the 50-Day EMA, which of course is the indicator that a lot of people used to determine the overall momentum of the market.
The S&P 500 does look a little bit stretched on the Wednesday session. And even further, when you look at the stochastic oscillator which is crossing at almost the 100 level.
I can see that this index is trying to do everything it can to rally.
