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27.05.2014 - Technical view on stock indexes

Price of the futures on the broad U.S. stock index S&P500 has overcome the historical maximum level of about 1900 and now is trying to gain a foothold above it. In case of success, the price will continue the upward movement inside the rising channel. In case of correction, the price may fall to a strong level 1886. We maintain a long-term negative outlook on the futures.

Nearest resistance levels: 1920, 1950, 2000

Nearest support levels: 1900, 1886, 1873, 1860, 1813

April 21, 2014 USSPX Graph

Price of the futures on German index DAX30 continued the upward movement and reached the upper boundary of the rising channel. We expect price downward correction, with the first goal near 9800. In case of further decline, a signal to sell will be price fixing below 9630. We maintain a long-term negative outlook for the futures.

Nearest resistance levels: 9900, 10000

Nearest support levels: 9800, 9700, 9630, 9400, 9200

The price of futures on Japanese index Nikkei225 has broken through the strong resistance level 14600 and is trying to gain a foothold above it. In case of success, we recommend to open long positions with the target near 15,000. Within the correction, the price may fall to 14,400. We expect growth of the futures price in the medium term, but keep a long-term negative outlook for the futures.

Nearest resistance levels: 15000

Nearest support levels: 14600, 14500, 14400, 14000, 13900

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