EN 
CN 
DOW30
Bias: Bullish
We look to Buy at 33380 with target prices of 34130 and 34420, and a stop price of 33130
Confidence: 60%
Technical Analysis
- We are trading at overbought extremes
- Selling pressure from 34116 resulted in all the initial daily gains being overturned
- Although the bears are in control, the stalling negative momentum indicates a turnaround is possible
- Previous resistance located at 34119
- In line with the possible early stages of a reverse head & shoulders pattern and the strong rejection of dips, we look to set longs in anticipation of a swing higher
- Preferred trade is to buy on dips
NASDAQ
Bias: Bullish
We look to Buy a break of 14350 with target prices of 14950 and 15500, and a stop price of 14050
Confidence: 60%
Technical Analysis
- The move higher is mixed and volatile, common in corrective sequences
- We are trading at overbought extremes
- A bullish reverse Head and Shoulders is forming
- Further upside is expected, however, due to the strong resistance above we prefer to buy a break of 14350, which will confirm the bullish sentiment
- The hourly chart technicals suggests further upside before the downtrend returns
US500
Bias: Bearish
We look to Sell at 4490 with target prices of 4290 and 4120, and a stop price of 4560
Confidence: 60%
Technical Analysis
- Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible
- We are trading at overbought extremes
- This is negative for sentiment and the downtrend has potential to return
- The hourly chart technicals suggests further upside before the downtrend returns
- Preferred trade is to sell into rallies
