30.09.2014 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 at the moment reached the upper limit of the local correction descending channel. In the near future we can see the intersection of SMA50 and SMA200, that will be an additional signal to open short positions. We maintain a medium-term negative outlook and recommend holding short positions with the objectives at 1950 and 1915 and a stop above 2000.

Nearest resistance levels: 2000, 2010, 2020, 2050

Nearest support levels: 1950, 1940, 1915, 1900, 1886, 1873

The price of the futures on the German stock index DAX30 continues to decline within the local downtrend. We expect that in the near future the price will reach the level of 9400, after breaking of which will continue to decline with the objectives of 9190 and 8900. The growth is limited by the level of the nearest local maximum around 9700. We maintain a medium-term negative outlook and recommend holding short positions.

Nearest resistance levels: 9600, 9800, 9870, 10030, 10500

Nearest support levels: 9400, 9190, 9000, 8900, 8600, 8000

The price of the futures on the Japanese stock index Nikkei225 has broken through the lower boundary of the rising channel and is consolidating near the level of 16100. In case of continued downward movement and the price fixing below 16000, we recommend to close long positions and wait for a signal for further action. Despite this we maintain a medium-term negative outlook with the objectives of 16500 and 17000.

Nearest resistance levels: 16500, 17000

Nearest support levels: 16100, 16000, 15800, 15650, 15500, 15350, 15200, 15000

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