Markets

DAX® – Two Gaps: Two important clock generators

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Two gaps: two important clocks

After a good game you should rest: The DAX® took this old Skat wisdom to heart yesterday and consolidated the price gains from the beginning of the week. The share barometer showed an “inside day” with a low fluctuation range of just over 120 points. The inner bar described would be resolved upwards if it rose above Monday’s high at 12,873 points. From a technical chart point of view, a successful course setting serves as a catalyst for a movement impulse towards the 13,000 point mark. At this level, things get serious. Finally, the downward price gap of September 21 (12,999 to 13,116 points) lurks here. Closing this gap would negate the trailing edge from the start of the previous week and thus give the equity barometer a sustainable perspective. On the downside, however, another price gap – namely the most recent upward gap (12,623 to 12,660 points) – plays a key role. Investors can currently use this price range without a listing as a stop loss. Although a weaker DAX® opening is to be expected today, our headline yesterday: “Two Gaps – Two Messages” sums up the chart technical starting position of the German “blue chips” very well.

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DAX® (Daily)

Chart DAX®

Source: Refinitiv, tradesignal

Key size: 3,400 points

In the last few days of trading, the S&P 500® had subjected the horizontal holding zone to a load test at 3,200 points several times. Just below this, another important support is available with the 200-day line (currently at 3,109 points). Overall, since the previous all-time high of September 2 at 3,588 points, the breather has taken the form of a classic abc correction. The most recent upward price gap from the beginning of the week at 3,307 / 3,328 points now raises hope that the American standard values ​​the above. Use the support zone as a stepping stone. In order to return to the road to success in the long term, the equity barometer still has to drill a thick technical board. What is meant is the resistance zone from the moving average of the last 38 days (currently at 3,384 points), the old record level from February (3,394 points) and a Fibonacci level (3,398 points). In other words: A sprint above the 3,400 point mark ends the latest gathering of strength and paves the way for a classic election rally. The above If successful, the equity barometer should quickly target its all-time high again.

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S&P 500® (Daily)

Chart S&P 500®

Source: Refinitiv, tradesignal

200-day line as a stepping stone?

Alphabet shares used the Fibonacci level in the form of the 138.2% projection of the spring correction (USD 1,730) for a consolidation in early September. In the course of the most recent respite, the technology share is placed on the smoothing line of the last 200 days (currently at USD 1,408) (see chart). In the general bull market of the last decade, such setbacks on the most noticeable moving averages have not occurred too often. At the same time, pullbacks like these were always good entry opportunities – this time too? The break in the steep correction trend (currently at USD 1,422) provides a first hint in this direction, because this means that the price development of the last few weeks can ultimately be interpreted as a healthy breath. With a hedge based on the 200-day line, investors can therefore consider new long positions. A spurt over the resistance zone from the gap in mid-September (USD 1,508 to USD 1,520), the old record high of February USD 1,532 and the average of the last 38 days (currently at USD 1,539) would cement the return to the road to success.

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Alphabet Class C (Daily)

Chart Alphabet Class C

Source: Refinitiv, tradesignal

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