Day trade
Trade view / 26 July 2016 at 6:34 GMT

A post-rally look at the Dax

partner and technical analyst / 3 c analysis
United Kingdom
Instrument: GER30.I
Price target:
Market price:
Background

The rally since June and July’s low is probably corrective and temporary, and with futures testing a weekly bear trend as well as the 200-day average rate signals have weakened. There is no clear reversal pattern but the outlook for Tuesday is bearish.

Management and risk description

Allow room to sell rally. Lower stop to entry if the first target is met.

Parameters

Entry: market and 10247.0, just below yesterday's high

Stop: 10314.0, the June 23 close.

Target: 10059.5, Friday's low and 9910.5, last week's base.

Time horizon: today only.


Source: CQG 

DAX 8 hourly - pullback to gains
Source: CQG 

DAX Weekly - Bear Trend
Source: CQG 

DAX Quarterly - lower highs

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Source: CQG 

— Edited by Clemens Bomsdorf

For more on equities click here.

Non-independent investment research disclaimer applies. Read more
26 July
DudetteUK DudetteUK
Good morning Steve. You are talking massive volatility today! Do you have the same view on the Nasdaq please?
26 July
Steve Lucas Steve Lucas
Hi Dudette...massive volatilty ?...selling 37 Pts from open and 67 Pt stop behind that is normal these days....targets are fair way away, but I can step in before then.....re Nasdaq we have to expect volatilty with Fed, but more importantly in reporting period, so always expect it even if nothing on horizon you never know !
26 July
DudetteUK DudetteUK
Thank you Steve. I might be completely wrong, but it looks like the NQ is on an AB=CD up from Feb lows and we could see 4810 .... But with Fed and BoJ this week, it is tough to know how to trade it, so I bought 114.5 and 115 calls on QQQ
26 July
Steve Lucas Steve Lucas
I agree with your view...my weekly signals remain bullish but its hard to buy up here so calls sound good to me
26 July
DudetteUK DudetteUK
Thanks Steve. Not much liquidity so late in July. Have a great trading day

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