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Weekly Review with Chart Analysis (CAC,DAX,US)

This weekend, we want to add a chart analysis to the results of our short term quant model because we have a clear divergence between US and EU (once again).

Looking at the US, we can see the market is well oriented. Current rebound is powerful and the next serious resistance is around 2200. This level seems achievable in coming days.

Sigma Whole Market Index Chart

Looking at the CAC40, we can notice current rebound is less impressive than in the US, and it seems a possible HS is under construction (neckline @ 3600). This pattern has to be monitored in coming days.

The CAC closed a gap on Friday before reversing all the early gains. This doesn't sound bullish for coming sessions.

CAC40 Chart

Looking at the DAX, we can notice current rebound is very weak (even weaker than for the CAC40). Recent gap remains open, and Friday's top was lower than last week's top. Moreover, the DAX remains stuck in a broadening downtrend channel.

DAX Chart

Our ST quant model uplifted some stop levels:

SPX Table

NDX Table

CAC Table

DAX Table

Trading Book:

- SPX: 1 long at 1588.17 (stop @ 1564, 3pts below the model to take into account bid/ask spread)
- NDX: 1 long at 2868.65 (stop @ 2803, 5pts below the model to take into account bid/ask spread)
- CAC: 1 long at 3657.24 (stop @ 3644, 5pts below the model to take into account bid/ask spread)
- DAX: 1 long at 7817.14 (stop @ 7659, 10pts below the model to take into account bid/ask spread)

For those of you interested in our trades, you can visit our site: we post all our trades in real time. You can also subscribe to our twitter account (@SigmaTradingOsc), it is free and you are updated on our latest view/trades.

 

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