Per today we waited a bullish acceleration and then a retracement tomorrow. It appears that the path has changed and that with today’s retracement, an acceleration to the upside will likely follow from tomorrow morning onwards. If the opposite occurs, we will have to worry but at the moment we give this hypothesis a low probability.
Indeed, the strength of the markets sees no obstacles and today is a retracement before further rises.
At 5:08 pm on the trading day on October 27th we read the following prices:
Dax Future
15.696
Eurostoxx Future
4.209,5
Ftse Mib Future
26.640
S&P 500 Index
The annual forecast has been bearish since the beginning of August
In red, our annual forecast on the world stock index on a weekly scale for 2021.
In blue the chart of the American markets up to 22 October.
The charts, on the other hand, continue to move upwards and must be followed until their reversal.
What were the expectations for the current week?
Side and minimum phase between Monday and Tuesday and then rise until Friday. Today’s retracement has not changed the structure of the weekly forecast.
Below are the areas of minimum / maximum expected for this week
Dax Future
15.380/15.540
15.856/15.989
Eurostoxx Future
4.140/4.180
4.276/4.325
Ftse Mib Future
26.300/26.455
26.865/27.000
S&P 500 Index
4.501/4.543
4.600/4.659
The strength of the markets sees no obstacles and today is a retracement before further rises
Dax Future
Bullish trend until we see a daily close below 15,513.
Eurostoxx Future
Bullish trend until we see a daily close below 4.173.
Ftse Mib Future
Bullish trend until we see a daily close below 26.410.
S&P 500 Index
Bullish trend until we see a daily close below 4.524.
Which multidays trading positions to hold for Thursday and the following days?
Keep Long trades open on Tuesday 19 October and you could take advantage of this retracement for further upside entry
What might tomorrow’s trading day look like?
Opening on the lows and closing around the highs of the day.
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