Bund reached the July high at 163.39

Eurostoxx September contract

EuroStoxx 61.8% Fibonacci support (June low to August high) lies at 3410. Below targets the 500 day moving average at 3399/95. A break below here is an obvious sell signal targeting 3376/74. Below 3370 look for 3353/50 & 3334/30.

Gains are likely to be limited with minor resistance at 3430 then a high for the day possible at 3440/45. Shorts need stops above 3455. An unexpected break higher targets 3470 & a selling opportunity at 3480/85.

 

Bund September contract

Bund reached the July high at 163.39 & holding above here targets 163.60/64, 163.84/86 & 163.97/99 before the May high at 164.15/19.

Downside is likely to be limited despite overbought conditions with minor support at 163.23/20. Better support at 163.09/04 could hold the downside but below here targets 162.95 then a buying opportunity at 162.88/84, with stops below 162.75.

 

Dax September contract

Dax just held the 4 week low at 12376 but the outlook remains negative. Minor support at 12350/340 but below here targets 12300/290, 12260/250, 12210/200, 12170, 12120/110. On further losses look for the June low at 12100/090.

Gains are likely to be limited with minor resistance at 12455/465. Stronger resistance at 12505/515 could see a high for the day but shorts need stops above 12560. Try shorts again at 12595/12605 with stops above 12660.

 

Emini Dow Jones September contract

Emini Dow Jones bottomed 15 ticks above 25430/420 but only for a few hours before we hit support at 25270/260 for profit taking on all shorts. We bottomed exactly here for a 110 tick bounce before eventually hitting 25215. Further losses are likely in the correction phase & holding below 25270/260 targets 25220/215 of course. Below 25200 look for 25140/130, 25090 & perhaps as far as strong support at 25020/010.

Gains are likely to be limited with minor resistance at 25320/330 then strong resistance at 25385/395. A high for the day likely but shorts need stops above 25430. An unexpected break higher targets 25490/500.

 

Ftse September contract

FTSE now clearly through support at 7650/45 this morning to target the best (or only) support for today at 7620/15. Below 7610 is a sell signal therefore targeting 7589/86, 7576 & 7559/56. On further losses look for 7533/29 & strong support at 7500/7490.

Gains are likely to be limited with minor resistance at 7635/38 then 7650/55 more of a challenge. Above 7670 however opens the door to a selling opportunity at 7690/95, with stops above 7710.

 

S&P September contract

Emini S&P potentially huge double top sell signal with a weekly close just below 2840 triggering our first negative signal. We paused at support at 2847/45 for only a few hours before a break lower to strong support at 2837/35. We did see a bounce in quite volatile conditions at this level before a break lower to 2826 in the evening session.
Outlook is more negative of course & holding minor resistance at 2840/41 targets 2835/36 then strong support at 2826/23. This should be the most important support of the week. A break below 2820 therefore is a significant sell signal targeting 2815, 2808/06 & perhaps as far as strong support at 2799/97.

Above 2840 meets stronger resistance at 2846/48. Gains are likely to be limited in the correction phase but shorts need stops above 2852. We then watch for a test of 2862/64 before the all time high at 2776.