The explosion at the discount of yesterday’s momentum, today was followed by a rebound attempt after a first attempt at a further lunge in the early hours of trading this morning. So what to think of the markets after this further trading day? We clear the field immediately and immediately affirm that today’s market rebound does not change the technical scenario for the moment.
New discounts at the door?
At the time of writing the markets are quoting at the following prices:
Dax Future
Eurostoxx Future
3.162
Ftse Mib Future
18.900
S&P 500
3.285,43
Is this rebound a prerequisite for new sales or is it an “antechamber” for further increases?
Cyclicality of September and October downwards
In the historical series, the month of September is the one that is most likely to close in negative territory.
In blue the chart of the world stock exchanges until the close of 18 September.
Our annual forecast for 2020 is in red
The decline should continue until the first ten days of October. Right now the current trend and the forecasts match but this does not mean letting your guard down and taking the near future for granted.
Today’s market rebound does not change the technical scenario for the moment
What will change the fortunes? Here are the levels to monitor for tomorrow and then in the next few days:
Dax Future
Lasting increases only in the weekly close of 25 September above 13,435. Reduction in progress and new rises only with daily closing on 23 September above 13,137.
Eurostoxx Future
Lasting increases only in the weekly close of 25 September above 3,386. Reduction in progress and new rises only with daily closing on 23 September above 3,278.
Ftse Mib Future
Lasting increases only in the weekly close of 25 September above 19,980. Reduction in progress and new rises only with daily closing on 23 September above 19,375.
S&P 500
Lasting increases only in the weekly close of 25 September above 3,426. New rebounds only with daily close on 23 September above 3,286.
For the moment we do not see signs of a bullish reversal and therefore we are “betting on further declines”. This until proven otherwise.
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