DAX surges after choppy week
It looks like the DAX has established another bottom above 11,000, consolidating around this area over the past few days and in a similar fashion to the late October price action.
Now we wait to see if the gains can be held, and a push to the 11,700 area of resistance may result. Above this the mid-October peak of 11,560 comes into view. Dips back towards 11,000 would imply another test of this area of support.
S&P 500 starts off the week with a bounce
Now that Thanksgiving is out of the way markets can return to normal trading, and so far US futures are in a positive frame of mind.
If the retest of the October lows of the S&P 500 is now complete then further gains will result, targeting 2700 and then on to 2820. A pullback towards 2630 might provide a buying opportunity, and it would require a firm close below 2600 to suggest that the October lows have been definitively breached.