Dax Daily Market Summary
We had a gap open today, much smaller volume than normal for reasons we know, we closed the gap and formed a doji. Other major markets are looking a little ‘toppy’ and because of this (and that I couldn’t take half of my trade off the table) I have closed my trade today.
There are some interesting articles to look at and a trade setup on the SPX to look at as well as general analysis based on volume profile and fundamentals.
Take a look at the video (sorry if the volume is low)
[wp_ad_camp_1]
Dax Daily Market Outlook
[wp_ad_camp_1]
Early earnings data has boosted the markets in the Dax today with Henkel contributing with a near 4.5% uplift. Releases like these can ensure that equity markets remain buoyant heading towards the end of the year. We are trading at the top end of the key levels today and are above the 200 day EMA. The next target for me is the daily R2, I don’t know if we can trade much further than that.
There was a pocket which developed under YVAH and we sliced straight through that today, so it will be interesting to see if we can hold above that level. Further down there is another low volume area, if we do drop towards that, then again I will be watching it closely.
volume pockets
[wp_ad_camp_3]
Pivot Levels
[wp_ad_camp_3]
Intra day volume profile
[wp_ad_camp_1]
Key Levels
| KEY LEVELS | |
| Daily R2 | 9438 |
| 200 Day EMA | 9361 |
| Value High | 9357 |
| Naked VPOC | 9314 |
| 24hr VWAP | 9310 |
| Daily Pivot | 9307 |
| Value Low | 9263 |
| Daily S2 | 9176 |
