SPX
Holding above 2630-2620 in the SPX is a sign of strength. However, the inability to break cleanly above 2680-2690 is a sign of weakness. This is portrayed better in the Ichimoku cloud chart. Breaking below 2630 will lead to a move below 2600 with bearish implications for the medium-term. With 2580 the most probable target, I remain slightly bearish at current levels. A higher low around 2550 would be ideal for the next leg higher, 2470 key support level for the longer-term trend. Breaking below it will increase dramatically the chances for a new low towards 2200-2000.
NASDAQ
Key short-term support is at 6600, while I expect a pullback towards 6450 at least. The longer-term bullish scenario gets fewer chances of success on a break below 6220.
A higher high now will only add to the RSI bearish divergence. Pull back now is the most probable scenario.
DAX
Time for a pullback here as well as price is sliding on top of the long-term upward sloping support trend line
DAX remains inside the longer-term bearish channel and I expect the price to get rejected here.
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