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Technical Analysis of Financial Markets on January 2: Outlook for S&P 500 and DAX

 

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Introduction: Welcome to our today's technical analysis of financial markets! We begin with an overview of the S&P 500 in the daily chart and the DAX. Let's delve into the current developments and potential trading opportunities.

S&P 500 in the Daily Chart: At the end of the previous year, the S&P 500 returned to the 10-day EMA and successfully defended it, similar to the previous weeks. As long as this support holds, it suggests further upward movements. A possible uptrend could target the high at 4797 points or the resistance at 4800 points. A breakthrough above 4800 points could set the next target at 4820 points. However, a sustained drop below the 10-day EMA could generate an initial short signal, with the next support at 4700 points. Despite January being seasonally strong for the S&P 500, a longer correction is possible after the extended uptrend.

DAX in the Daily Chart: The DAX also defended the 10-day EMA after a bearish daily candle on Thursday. On Friday, the index recovered, with the daily low again at the 10-day EMA at 16702 points. Positive note: After the correction with a low at 16592 points, the DAX rose above the 10-day EMA, defending it in the daily lows in recent days, indicating short-term strength. Another rise could target the level of 16800 points, with a further ascent towards 17300 points.

Analysis of Market Marker Recognition Lines in the Hourly Chart: Especially in the DAX's hourly chart, the Market Marker Recognition Lines are crucial. In the current sideways movement between 16890 and 16940 points for short positions and 16620 and 16670 points for long positions, they provide essential reference points. Proper interpretation of these lines can be decisive for successful trading strategies.

Conclusion: The technical analysis indicates possible price movements for S&P 500 and DAX on this Tuesday. Pay particular attention to the Market Marker Recognition Lines in the DAX's hourly chart for precise trading decisions. We'll be back tomorrow with further updates, wishing you a successful trading day and a great start to the week! 📈💼 #TechnicalAnalysis #DAX #SP500 #TradingInsights #FinancialMarkets


Disclaimer: This analysis is provided for informational purposes only and does not constitute financial advice. Any trading decisions made based on the information presented in this analysis are the sole responsibility of the reader. It is strongly recommended to seek advice from a qualified financial advisor if needed.

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