What is today forecast for SP500, DAX30, NASDAQ and FTSE100 ?

DAX Index: Record Values as Buying Power Produces Gap Higher

The DAX Index has opened with a strong gap higher and achieved more record values in early trading today.

The DAX Index is trading comfortably above the 15000.00 juncture and, in early trading today, touched the 15313.00 mark temporarily. As investment houses return from their long holiday weekend, traders should expect volumes to grow and for another dose of volatility to ensue. Early calls from the US future markets indicate a slight sell-off ahead for the major equity indices, but this comes on the heels of another record-breaking performance yesterday higher.

Speculators cannot be blamed for wanting to catch their collective breath at these heights for the DAX Index and its major global counterparts. However, trading conditions are likely to remain fast and produce rather eye-opening results as financial institutions continue to react to the incredible amounts of money being discussed regarding US stimulus and its potential impact on the economy of the US and globally.

The ability of the DAX Index to achieve new highs this morning displays the amount of buying exuberance, which exists with the broad markets.

Cautious traders who believe the DAX Index has gained too much but want to pursue its upside momentum are encouraged to wait for slight pullbacks which come within sight of short-term support. US markets may prove to be cautious early on, but speculators should understand that the full return of investment houses after the long holiday weekend could spur on additional buying momentum short term on global indices, including the DAX Index.

DAX Index Short-Term Outlook:

Current Resistance: 15315.000

Current Support: 15222.000

High Target: 15395.000

Low Target: 15130.000



S&P 500 Forecast: Gapping Higher to Kick Off Week

It is only a matter of time before the buyers step in and pick up this market “on the cheap.”

The S&P 500 rallied quite significantly during the course of the trading session on Monday, after gapping right off the bat. This is a very bullish sign and should have traders aiming for the 4100 level. After all, the United States added 916,000 jobs for the month of March, and at this point it looks as if the US economy is going to continue to scream to the upside. Monday was a first day that people had the ability to trade on Wall Street, so it is not a huge surprise to see that we saw a massively bullish session.

At this point, although it is a bit redundant at this point when you think of stock indices, it is a “buy on the dips” scenario, as the gap below that sits just above the 4000 handle should offer support, and of course we are in an uptrend anyway. Below there, you are looking at the 3950 handle, followed by the 3900 level which is rapidly being approached by the technically significant 50 day EMA. The 50 day EMA is an area that attracts a lot of attention, so I do think that it is only a matter of time before the buyers step in and pick up this market “on the cheap.”

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