Come written several times on these pages, until the first ten days of August we do not expect any lasting drops but today’s signal on the equity markets is not a good one. It must be said that in the last few weeks some false signals have alternated several times and therefore everything is still in play and up to the American employment data on Friday anything could still happen.
Let’s proceed step by step.
At 8:20 pm on the 30 June trading day we read the following prices:
Dax Future
15.526
Eurostoxx Future
4.054
Ftse Mib Future
25.015
S&P 500 Index
Our annual forecast still projects hikes for a few weeks
In red our annual forecast on the global weekly stock index for 2021.
In blue the chart of the American markets up to 25 June.
Our forecast for the current week
Scenario expected for the week of June 28th
The weekly minimum should be formed between Monday and Tuesday and the maximum on Friday. To date, this forecast is starting to falter and could be disproved.
It is not a good signal today on the stock markets.
A fix begins? Here are the operational levels to monitor:
Dax Future
Bearish trend in progress. Short bullish reversal with daily close on July 1st above 15.706.
Eurostoxx Future
Bearish trend in progress. Short bullish reversal with daily close on July 1st above 4.102.
Ftse Mib Future
Bearish trend in progress. Short bullish reversal with daily close on July 1st above 25,290.
S&P 500 Index
Bullish trend in progress. Short bearish reversal with daily close on July 1st below 4,271.
What trading operations to keep for Thursday?
It continues to go in no particular order but between tomorrow and the day after tomorrow the fate should be clear at least until the first ten days of August. For this reason, also for tomorrow it is advisable to operate only from an intraday perspective and to remain on the sidelines from a multidays perspective.
As usual, we will proceed step by step.
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