Technical Forecast for the Dow, S&P 500, FTSE, DAX and Nikkei

Dow, SP 500, FTSE, DAX, Nikkei Technical Talking Points:

SP 500 Breaks Trend Support, Softens Technical Outlook.

US Dollar Drops as NFP Prints +134k; EUR/USD Re-Tests Resistance.

– Are you looking for longer-term analysis of Equity prices? Check out our Quarterly Forecasts as part of the DailyFX Trading Guides.

Stocks Pull Back in First Week of Q4

Q4 is seeing an increasing amount of pressure around equities as an initial move higher to kick-off the quarter has been soundly faded-out. While the Dow set a fresh all-time-high in the first few days of the quarter, the SP 500 put in a similar move of strength. The Nikkei punched-up to a fresh 27-year high on Monday, but the second-half of the week hasn’t been so kind to those prior bullish themes. Meanwhile in Europe, risk aversion has reared its ugly head and both the DAX and the FTSE 100 are undergoing bearish themes; bringing to question the viability of a continuation of the strength that showed in the second-half of September in both indices.

Given the context, it could be helpful to take a step back

Article source: