We held a range of about 250 ticks last week so there are few decent trading opportunities until we see some movement again.
FTSE 100 March holding a 100 tick range last week so same levels apply for today as we wait for a move.
Remember when support is broken it usually acts as resistance & vice-versa.
Update daily by 06:00 GMT.
Today's Analysis.
Dax March has a series of 8 Doji's in a row - very unusual but it serves to emphasise the sideways trend with no clear direction going forward. Bulls & bears have lost interest in the battle! We are holding just above support at 15000/14950 so far this week (about 35 tick above) with a bounce from here targeting minor resistance at 15170/200 before strong resistance at the January high of 15300/330. Shorts need stops above 15380. A break higher is a buy signal initially targeting 15500.
First support again at 15000/14950. A break lower targets 14870/850 then strong support at 14770/720.
FTSE March longs at first support at 7695/75 worked perfectly yet again yesterday as we establish a sideways trend for an easy 70 tick profit on the bounce to strong resistance at 7745/65. (A high for the day again here yesterday in fact) - Shorts need stops above 7785. A break higher is a buy signal targeting 7825 before a retest of 7850/60.
First support again at 7695/75. Longs need stops below 7865.
Emini S&P March broke first support at 4045/35 this time but missed my buying opportunity at 4000/3990 by 7 points
Nasdaq March longs at 12000/11900 worked perfectly with a bounce from 11872.
Emini Dow Jones March clearly in a sideways triangle pattern for 2 months. We will wait for the breakout.
Update daily by 06:00 GMT.
Today's Analysis.
Emini S&P March bounce from just above 4000 hit 4045 & my next target of 4075, perhaps as far as resistance at 4100/4110 this morning. A break higher can retest the December high at 4140/45.
A buying opportunity again at 4000/3990. Longs need stops below 3980. A break lower sees 3990/4010 acting as resistance to target 3970/60.
Nasdaq March bearish engulfing candle on the 1 hour chart triggered a move to the downside exactly as predicted to first support at 12000/11950, with longs working as we held above 11850. A break lower today however can target 11730/700.
A bounce from first support at 12000/11950 targets 12300 (we are only half way there as I write) then 12460/480.
Emini Dow Jones hit my next target of 33800/750 then ran as far as 33600 yesterday before a bounce in the sideways trend to strong resistance at 34150/200. Shorts need stops above 34300. A break higher retests the January high at 34450/490.
Minor support at 33850/750 but below here can target 33500/450.
