The DAX showed a major gap into its support level.
The S&P made its first attempt breaking his major level at 1860. Expect to see some more opposition before it breaks. This level is an important one so unless a catalyst accelerates the sell-off, we could stay here for a few days.
The Hang Seng is breaking lose after the consolidation.
The Nikkei is tanking heavily.
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Even though we have seen markets selling off for some time now, this could only be the start as there is a lot of room for corrections across all markets. Especially when the S&P breaks its level and with more negative developments from China, this could get ugly soon.
Kommentare
venkat
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nice analysis can you cast some light on indian index CNX NIFTY, nifty trading between -80 to -100 MO, bottomed out sir?
Tradeciety
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Hello Venkat. Thanks for your comment. I don't follow the Nifty.
In Tradingview I just post my daily analysis I do anyway for my own trading.
Rolf
tradir91
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Hi! It seems that you use EOD charts, if Im right, that means "end of day" value? Could you please explain why EOD instead of realtime charts? Thank you!
Tradeciety
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hello Tradir,
yes, you are correct. I don' actively trade indexes and only use them as a general barometer for risk sentiment so EOD works fine. I live in Asia so when I start my day, I just take a look at US and Europe to see what has happened. I do check Shaghai Composite real-time charts these days - but this index is not provided by Tradingview. Or maybe I am missing it?!