DAX fails to break 11,350
Two days of trying to break through 11,350 have ended with another drop, although Friday’s lows around 11,240 may hold. A move through here heads towards support at 11,130, and then down towards 10,900. The daily uptrend from the September lows still holds, and so even a move to 10,830 would still not count as particularly bearish. A break through 11,350 would head towards resistance at 11,464, and then on towards the August highs around 11,600.
Dow starts week off poorly
The week has opened with a negative start for US futures, after the quiet end to last week. We saw repeated attempts to move beyond 17,900 over the last few sessions, all of which came to naught. For now support around 17,750 continues to hold, but a move down through here would head towards 17,620, and then on to the 200-day SMA around 17,420. A bullish move needs to break beyond 18,000 to really indicate that the index is moving higher, rather than just consolidating.