DAX bounce provides sellers with an entry
Yesterday, a rebound for the DAX from below 11,300 to 11,500 merely provided an opportunity for sellers.
Below 11,266 the price will head back to the October lows at 11,050, coming close to the rising trendline support level from the late 2011 lows. A break below 11,050 brings 10,823 into view. A firm move above 11,500 is needed to suggest a bullish recovery.
S&P 500 sheds further ground
The retracement of the S&P 500 continues to gather pace, as the price returns to the 2700 area that has previously been interesting support.
Below here the 2600 lows come into play. A rebound above 2760 is needed to suggest a near-term recovery.