Last Friday was a very dramatic day with a 27 min rally - short covering - the last 27 min of the week. That means that just a few big players were trading. The traders or the robots changed the expected weekly close to a difficult technical situation Monday for The DOW. The SP500 day chart rallied too but the close makes this index start with a falling day 8 MA which should mean that a new high seems unlikely. The close is the close and every point will be used in the global trading on diagrams and robots when it starts 01:00. FTSE and DAX were as usual traded until the end of the US session. These two indexes were not affected by the sudden short covering and closed down. We now have the FTSE and SWED, the usual indicators for what is next in the global markets - a downtrend. With SP500 with a falling 8 day MA and HSI bearish I think that this week will continue lower as it looks right now. The days of the week will be blogged as usual. However company reports will start coming in. North Korea and Iran could affect the markets. NIK and HSI will likely react on increased tensions. Here are the closing daily diagrams for DOW, SP500, FTSE, SWED, HSI and NIK. The DOW 1 min chart is at the bottom showing the rally mentioned above.
DOW
SP500
FTSE
SWED
HSI
NIK
DOW 1 min chart starting 27 minutes from close.
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