Wall street: 17550 the next challenge! Full Bull in Europe too? 3-11-2014

As we were expected in October, the upward reaction to the targets 1.2885- 12950 probably completed. 

 

General as the pair remains below the 1.3000 the downward trend will continue, with more and lower targets listed in the Bulletin (SF). 

 

The ultimate goal of the medium drop by our  current knowledge, is placed between 1.2300 and 1.2200. 

 

 

 

Wall street - Daily Rolling: 

 

The continued rise to higher goals on Friday, writing a new record high at 17430.  Spot, also recorded a new all time high in closure at 17396. 

 

17550 may be is next target while 16900 is the first major support for the index . We do expect a corrective pullback to this area.. 

 

 

 

Germany 30 - Daily Rolling: 

 

Severe weakness for the german index, while remaining only 7% from its historic high (10050) . Theoretically, the technical image question us: how far it will go to reach the US indices until that happens? As long as Dax did not break 8900 then price should be on its way to 9720-9950

 

Short-term reversal is expected to drive down to 8900-8850   and next possible area of this pullback  8700– 8600 in spot. 

 

FTSE - Daily Rolling

 

We should see a corrective pullback soon that takes price back to 6350 – 6220 . 

 

 

Gold - Rolling Daily: 

 

We expecting an upward reaction soon to 1180 -1196 area, perhaps with the approach of 1150 - 1160 dollars in spot. 

 

 

SP 500 - Daily Rolling: 

 

It is essential to see the current day, especially because S&P did not record a new all times high, just equaled the previous one, which "blurs" . We still expect a pullback  this week target of 1988 -1962 , however if 1988 hold the we will have more upside to 2045-2082 area..