As a video I have already processed some inspirations here:
When the DAX exceeded 16,000 points, the momentum of the movement abated significantly and the index went into a sideways phase. The flattened momentum is now clearly visible on the hourly chart:
We already had the proximity to the all-time high and its attraction with this chart image in the Morning analysis on 07/21/2023 pointed out (review):
The big picture was again a good orientation with the zones of the last few months and gives further deductions as to where the next movement could go. Since a sideways consolidation is often just a pause in an existing movement, this could be continued in the next step to 16,300 and also target the all-time high above:
In my opinion, the underside will only become exciting again when we have a closing price below 16,000 points. This would eliminate the current range. In a shorter time frame, this is outlined as follows:
From Monday I will do this again accompany with concrete trades to the start of DAX trading – you are welcome to register today:
On balance for the month of July there is no movement to be seen. We are trading at the same level as at the start of the month. Here you can see the daily summary of the respective trading days on the XETRA trading venue:
How does this picture rank in a weekly comparison to the other indices?
Dow Jones particularly strong, further weakness in the Nasdaq
The Dow Jones is continuing the momentum of breaking out of its sideways zone and closed Friday slightly up. This puts him almost at the top of the international indices:
However, the Nasdaq experienced a week of consolidation after only setting new highs for the year. The quarterly figures from Tesla and Netflix were seen here as an “impulse” to correct something. However, the upward trend has not yet been reached and therefore no major sell signal has been given:
I would also be happy to trade the respective opening on the US market with you from 3.25 p.m. – click here Registration for the new week:
Speaking of quarterly figures: In the new week we can expect a large amount of data, excerpts of which are shown here with Microsoft or McDonalds and VISA:
What else do you need to pay attention to?
Dates of the new trading week
Above all, the FED meeting on Wednesday and the ECB decision on Thursday are of interest to market participants. Before that, however, the S&P Global Purchasing Manager is on the agenda on Monday.
Deadline is the economic calendar recorded here and will then be reprocessed accordingly in the analyzes for the following days:
We then go to such data and the most recent ones in the live trading room quarterly figures one more time. Sign up for the Access to the live trading room here free of charge:
I will implement my setups with CFDs and futures. I primarily deal with that Broker JFD and these conditions and use for them Chart analysis tool StereoTrader.
On the Twitch channel FIT4FINANZEN you will be presented with further detailed inspiration and opinions. Feel free to watch it for free and over several hours, in which other traders and speakers LIVE comment on the course of trading and other financial data in HD and discuss their approach:
Please also have a look at my channel on YouTube for further market analysis, where I place relevant market updates:
So I wish us a lot of success in trading, which is about to start.
Yours Andreas Bernstein
*Placed products/tools are marked accordingly and advertising. 66.86% of retail investor accounts lose money when trading CFDs with the company. You should therefore consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money!