The major global stock indices are down significantly today, as the apparent “under-the-hood” weakness that we have been monitoring previously finally turned into broad price weakness, on the monetary tightening plans of the ECB and the FED. The NASDADQ’s flash crash two weeks ago was the first tremor, and now the tech index broke the lows, and it’s now testing the long-term trendline.
DAX, 1-Hour Chart Analysis
The Euro’s strength already weighed heavily on the DAX, and it’s now reached the 12,375-12,500 support range that we have pointed out recently. The S&P 500 is close to triggering our trade recommendation from earlier today, as it got close to the 2400 level.
NASDAQ 100 Futures, 4-Hour Chart Analysis
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