First off is the Nikkei 225. We had a break out earlier today which also confirmed a head and shoulders bottoming pattern. The lower high and lower lows began to exhaust. We are now awaiting for our first higher low swing here to confirm this uptrend.
Second is the German Dax. We had our breakout, and are now approaching the major 10,000 level. From here, would like to see 10,000 tested before a pullback and then a breakout creating a head and shoulders pattern and giving us a higher low to confirm an uptrend.
The Russell 2000 is close to the Dax set up. We are watching for this breakout. Similar to the Dax in a way that we would like to see a move higher before a pullback and then a head and shoulders confirmation breakout. The Russell may also be a leading indicator on what we will see with the larger US equities.
Second is the German Dax. We had our breakout, and are now approaching the major 10,000 level. From here, would like to see 10,000 tested before a pullback and then a breakout creating a head and shoulders pattern and giving us a higher low to confirm an uptrend.
The Russell 2000 is close to the Dax set up. We are watching for this breakout. Similar to the Dax in a way that we would like to see a move higher before a pullback and then a head and shoulders confirmation breakout. The Russell may also be a leading indicator on what we will see with the larger US equities.
