Daily Forecast - 3 March 2015
DAX
Dax first resistance at 11,456/60 of course but this should cause problems again today. I never recommend shorts in a Bull trend, but there is just a possibility that we can't beat this level today. If trying shorts use a stop above 11,475 and look for the next target of 11,489/95. If we continue higher look for 11,515 then 11,535/40. Any further gains this week could reach 11,570.
First support at 11,380/375 but below here risks a slide to good support at 11,330/320. Try longs with a stop below 11,290. On a break lower look for a buying opportunity at 11,255/45.
S&P
Emini S&P all time highs & trend line resistance at 2115/17 is obviously key to direction. On a break higher look for the next target of 5 & 19 week trend line resistance at 2127/2130 as a selling opportunity. Try shorts with stops above 2135. A break & close above 2135 would clear all important resistance & opens the door to 2141/42 then 2148/50.
Below 2110/2109 adds a little pressure today & re-targets support at 2104/2003. Any longs need stops below 2099. A break lower risks a slide to to support at 2095/94. A good chance of a bounce from here but if we continue lower look for a buying opportunity at 2089/88 this week. Longs need stops below 2083.
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