DAX tiptoes higher from support
Here too late, June support has held, with 12,100 in this case allowing the bulls to build a near-term base for DAX.
The 12,400 zone may provide some resistance, and then above this the 12,700 area comes into play, with trendline resistance from the June highs around 13,100. A close above 12,700 would put the index on a much more bullish footing. A close below 12,100 opens the way to a retracement towards 11,700.
S&P 500 back on its rising trend
Yesterday’s rebound wiped out the losses from Wednesday’s session, and now a push back towards the 2864 high from earlier in the month looks possible for the S&P 500.
From here, the 2877 all-time high comes into play. A close below 2790 is needed to create a more bearish outlook.