#Dax 30: Trading plan for Weds 22nd March 2017 $DAX $FDAX #technicalanalysis #fundamentalanalysis #trader #daytrader

DAX 30 initially opened higher on Macron being perceived as victorious over LePen in the head to head TV debate, but that euphoria quickly faded when US equity market came on line. EU equities have shaken off hawkish rhetoric from ECB members and a stronger EURO thus far with the CAC 40 and Euro Stoxx 50 breaking resistance to new highs, only to reverse very sharply on US fiscal stimulus concerns.

Daily :  Support seen at 11920, if that fails to hold then support seen at 11840

60 mins- must be weary of the H&S formation target of 11850 = gap fill.

10 mins – extremely oversold as we have surpassed pivot S3 , RSI and stochastic oversold.

Conclusion : I will be looking for a bounce to 12040…

DAX30 Perf Index 10mDAX30 Perf Index 60mDAX30 Perf Index Daily

#FTSE 100: Trading plan for Weds 22nd March 2017 $FTSE #FTSE100 #technicalanalysis #fundamentalanalysis #trader #daytrader

FTSE 100 was under pressure as soon as core CPI and RPI came in hotter as sterling moved higher along with hawkish BOE rhetoric, although Carney did attempt to talk down the hotter than expected inflation number.

Only until the US session came online at 13.30 onwards did we see the sell programmes kick as hopes for fiscal stimulus being passed through congress deteriorated given political infighting over the health bill.

Weekly : rising contracting wedge = bearish pattern as I have been arguing for the last week

Daily : retesting previous resistance = support

60 mins – support at 7360, 7340 .

10 mins – gap fill support at 7370

Conclusion: I will be looking for the bounce to 7400 if the opportunity presents itself. Carney has attempted to talk down a rate hike .

FTSE100 Index 10mFTSE100 Index 60mFTSE100 Index DailyFTSE100 Index Weekly

S&P 500: Trading plan for Weds 22nd March 2017 $SPY $SPX #ES_F $ES_F #technicalanalysis #fundamentalanalysis

US equities hit due to  1. Financial hurt due to interest rates/profitability  2. Fiscal stimulus delay

“Financials were pressured both by worries that a heated debate on Capitol Hill over healthcare legislation will delay business-friendly initiatives and by a flattening yield curve, said Ian Winer, head of equities at Wedbush.

Goldman Sachs equities analysts noted that if the House of Representatives was unsuccessful in passing healthcare legislation on Thursday, “stocks may start to reflect impatience about the timing of policy delivery, having made a ‘down payment’ already in multiples”. The legislation would still need to pass the Senate, seen as a bigger hurdle.

Looking at fundamentals, a record proportion of investors are now concerned that stocks globally are overvalued, with the US seen as the most expensive, according to a Bank of America Merrill Lynch survey released on Tuesday. Indeed, earlier this month, the S&P 500′s forward 12-month price-to-earnings ratio hit its highest level since 2004.”

Daily : into support after closing the gap at 2351.

60 mins – horizontal support

10 mins – falling contracting wedge . Exceeded pivot S3, RSI and Stochastics oversold= bounce expected.

Conclusion : I will look to play the bounce up to 2360-2370.

S&P500 Index 10mS&P500 Index 60mS&P500 Index Daily

#Nasdaq 100: bearish engulfing day registered, gap closed at 5330 $QQQ $NDQ $ND #technicalanalysis #fundamentalanalysis

Nasdaq 100 was flushed after making a new high above 5430 early in the day. The sell off was brutal , sharp and non stop down to gap fill at 5330.

Concerns over the health care bill being passed triggered the sell off as fiscal stimulus is on hold going forward.

60 mins chart indicates a potential bounce given that we are down -110 points from the high.

NASDAQ100 Index DailyNASDAQ100 Index 60m