As I mentioned last week I was expecting a pullback. We got a selloff. Nevertheless today the DAX 30 made a nice reversal on high volume like in March. I would have liked an intraday break of 6990 but you have a nice level to of support and a high volume reversal. So at least for the short term I think we could head higher. Very critical is 6990. A break below would hit many stops and the index could even gap intraday.
The EUROSTOXX 50 sold off hard during the last three sessions but found support at 2600. This level has to hold over the next few days. An upside target would be a gap close at 2800.
A very critical level in the S&P 500 Futures is 1294/1295. Watch these levels for defining the trend.
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