Charts, Stock Markets

The daily chart of the EuroStoxx 50 index shows that the index broke above the 50% retracement of the recent move down and rallied all the way towards the 61.8% level.

The daily chart of the Nasdaq 100 index shows that price is backtesting the previously broken blue trend line.

The daily chart of the Dow Jones Industrials index shows that the index is backtesting the yellow channel that contained price until a couple of weeks ago. A failure could send price back towards the lower green line, a break above towards the upper one.

The daily S&P 500 chart shows that my short bias was completely off, and that price is moving up in this green channel instead of the wedge I assumed was containing price.

The daily chart of the EuroStoxx 50 index shows that the index reached the 50% retracement of the recent move down, which intersects with the upper line of this possible channel.

The daily S&P 500 chart shows a possible topping candle that bounced from the 78.6% retracement level of the recent down-swing, and from the top of a possible green wedge (note that I had to move the upper line after the rally of the last few days, making this pattern less sure)

The weekly chart of the S&P 500 shows that this week is represented by a hanging man, which is a reversal signal and thus hints that there might be weakness ahead.

The daily chart of the EuroNext Amsterdam AEX index shows that price broke below the green trend line, but was saved by the yellow one. A breach of that one will open the gates of hell

The daily S&P 500 chart shows that price reached the 61.8% retracement of the recent down-swing and the top of this green triangle.

The daily chart of the EuroStoxx 50 index shows that the index reached the 38.2% retracement of the recent move down and the red trendline. We should see some resistance here, but a bounce above could send price towards the 50% retracement level rather quickly.