DAX continues to consolidate
The consolidation phase goes on here for DAX, with dips at the end of last week, below the 12,844 level, seeing buyers emerge, which reinforces the idea that we will move higher in due course.
The first level to breach on the upside is 13,095, and then from here, a daily close above 13,200 is needed to clear the way for another push to the October all-time highs. A close below 12,844 is required to raise the prospect of more losses, down to 12,673.
S&P 500 turns higher
Friday’s price action saw a hefty dose of volatility for the S&P 500, but even this dip was swiftly bought, which tells us a lot about this market.
It has been followed up with a gap higher, as the futures hit new all-time highs. Below 2658, the Friday spike lower found support at 2604, so a pullback towards here may bring out fresh buyers.