Fresh record high for S&P 500 as indices finish higher
Dow, Nasdaq and DAX all in a bull trend overview as trade optimism improves, though future gains at risk of reversal should talks fail.

Dow Technical analysis, overview, strategies, and levels
Risk appetite was off to a strong start yesterday, up next we've got more tech stocks which will only slightly affect this index, with the Nasdaq likelier to experience greater volatility. Microsoft lead the gains in this index’s components as the tech sector outperformed, while low-risk utilities lagged, as did real estate and energy. The index's price is above all its main moving averages (and its 50-day moving average crossed above its 100-day), and on the weekly the long-term bias is far clearer compared to the short-term that has been met with far too many intraday consolidatory moves.
Current Technical Overview | Bull Trend - Initializing |
Technical Overview Conformist Strategies | Buy 1st Support After Reversal, Buy 1st Resistance Upon Breakout From Below |
Technical Overview Contrarian Strategies | Sell 1st Resistance At/Before Price, Sell 1st Support Upon Breakout From Above |
S/L for 2nd Resistance | 27508 |
2nd Resistance | 27418 |
S/L for 1st Resistance | 27329 |
1st Resistance | 27239 |
Relative Starting Point | 27059 |
1st Support | 26879 |
S/L for 1st Support | 26789 |
2nd Support | 26700 |
S/L for 2nd Support | 26610 |
IG client and CoT sentiment for Dow
But retail traders are hoping they won't experience the same upside volatility experienced in both Nasdaq and DAX, which would push sentiment into extreme short territories as has been the case with the other two, as instead it has dropped 5% to a heavy short 66%.

Dow chart with retail and institutional sentiment

Nasdaq Technical analysis, overview, strategies, and levels
Alphabet's (Google) earnings yesterday showed a drop in profits on rising costs for new products and services, but this tech index surged to fresh highs breaching its mid-term resistance level as trade optimism improves, and in line with its bull trend technical overview on both weekly and daily, and where nearly all its main technical indicators are flashing green. In earnings Apple on Wednesday and Facebook on Thursday will also be closely watched, as well as AMD (Advanced Micro Systems) today.
Current Technical Overview | Bull Trend - Initializing |
Technical Overview Conformist Strategies | Buy 1st Support After Reversal, Buy 1st Resistance Upon Breakout From Below |
Technical Overview Contrarian Strategies | Sell 1st Resistance At/Before Price, Sell 1st Support Upon Breakout From Above |
S/L for 2nd Resistance | 8287 |
2nd Resistance | 8252 |
S/L for 1st Resistance | 8217 |
1st Resistance | 8182 |
Relative Starting Point | 8113 |
1st Support | 8044 |
S/L for 1st Support | 8009 |
2nd Support | 7974 |
S/L for 2nd Support | 7939 |
IG client and CoT sentiment for Nasdaq
Retail traders here have been desperately anticipating a move lower with the extreme short bias of 81% yesterday, and the upside squeeze has pushed that bias 2% lower to 79% but remains in extreme short territories.

Nasdaq chart with retail and institutional sentiment

Dax Technical analysis, overview, strategies, and levels
After a brief intraday session lower, the German DAXsurged higher to make fresh highs ahead of the November 1st resumption of bond purchases with auto shares outperforming, as it has been nearly session after session of gains where there have only been a few brief interruptions. On average however, while the weekly outlook is a bull trend, on the daily it has been stalling when viewed in terms of intraday movement.
Current Technical Overview | Bull Trend - Stalling |
Technical Overview Conformist Strategies | Buy 1st Support After Reversal, Buy 1st Resistance Upon Breakout From Below |
Technical Overview Contrarian Strategies | Sell 1st Resistance At/Before Price, Sell 1st Support Upon Breakout From Above |
S/L for 2nd Resistance | 13197 |
2nd Resistance | 13150 |
S/L for 1st Resistance | 13103 |
1st Resistance | 13056 |
Relative Starting Point | 12962 |
1st Support | 12867 |
S/L for 1st Support | 12820 |
2nd Support | 12773 |
S/L for 2nd Support | 12726 |
IG client and CoT sentiment for DAX
That has been difficult news for retail traders which was at an extreme short 80% yesterday and getting squeezed dropping that bias 3% to a heavy short 77%.

DAX chart with retail and institutional sentiment

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