ZuluTrade Blog

Market View

Review On Major Indices SPX500 US30 GER30 ES35 JPN225

Wednesday, February 22, 2017 4:24 AM GMT


The bullish momentum is still on fire for the major indices. Yesterday, GER30 recorded new highs of 22 months breaking out the psychological 12000 level while canceling the potential double top pattern.  DAX is following the extreme upmove of US indices like SPX500, US30 and NAS100 that still outperform for many days.  Therefore, their technical view is very interesting for all the forex traders.

SPX500 Daily

The bears need an immediate bearish reversal in order to verify the negative divergence as we have noted on the chart. Naturally, the bulls are having a party and control the price action.


US30 Daily

The chart is similar like SPX500. However, we have noted a longer period negative divergence with RSI (14) which is important. As previously, the bears need to really step up soon if they want to verify the technical weakness.

DAX30 Daily

The index broke out 12000 level and it gave a bigger boost on the buyer’s side. However, there is also a RSI negative divergence but price may still go higher close to the trendline.


ES35 Daily

There is a small rising wedge and we have noted two potential scenarios for both sides.  


FRA40 Daily

There is a potential cup and handle pattern, but we need to breakout the neckline in order to verify it. As well as before, we have noted two potential scenarios.


JPN225 Daily

This index is forming a symmetrical triangle. The price is very close to the upper side of triangle, but we haven’t still any valid breakout. 


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