Come written on the weekend, between Monday and Tuesday, where a rebound was expected, the scenario of the week just started would have been very clear. After the first day of trading, we can immediately say that the witches played a bad joke on the stock markets on Friday!
Let’s proceed step by step.
At 7:31 pm trading day on 21 June we read the following prices:
Dax Future
15.598
Eurostoxx Future
4.100,50
Ftse Mib Future
25.340
S&P 500 Index
The annual high should not have been marked yet
In red our annual forecast on the global weekly stock index for 2021.
In blue the chart of the American markets up to 18 June.
Our forecast for the week of June 21
The weekly maximum should be formed between Monday and Tuesday and the minimum on Friday. Tomorrow is decisive because it will give us reliable information and whether or not it was a false signal that of Friday 18 June.
The witches played a trick on the stock markets on Friday!
Below are the levels to monitor to keep the pulse of the situation and to understand if today’s very strong rise is to be cataloged as a new bullish reversal or as a mere technical rebound:
Dax Future
Bearish trend in progress. Short bullish reversal with daily close on June 22 above 15,602.
Eurostoxx Future
Bearish trend in progress. Short bullish reversal with daily close on June 22 above 4,103.
Ftse Mib Future
Bearish trend in progress. Short bullish reversal with daily close on June 22 above 25,345.
S&P 500 Index
Bearish trend in progress. Short bullish reversal with daily close on June 22 above 4,219.55.
What trading operations to keep for Tuesday?
Long from an intraday perspective but Short from a multidays perspective. Tomorrow’s trading day should open lower but then close on the highs of the day.
As usual, we will proceed step by step.
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