The market looks as if it is struggling to find direction, and it must be noted that the action during the session was noisy to say the least.
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The NASDAQ 100 rallied a bit on Tuesday to reach towards the 50-day EMA again.
The DAX has been absolutely hammered on Monday to kick off the week on the back foot.
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The FTSE 100 broke down significantly on Monday, as indices are starting to price in the idea of the risk of contagion on the Chinese mainland.
The market has broken significantly below the 50 day EMA and the previous uptrend line, but more importantly has closed at the very bottom of the range.
The NASDAQ 100 has broken down significantly on Monday, to slice through the 50 day EMA and approached the 14,800 region.
The NASDAQ 100 fell significantly on Friday, but you should keep in mind that it is “quad witching”, meaning that several options are expiring at the same time.
The S&P 500 fell a bit on Friday as the quad witching came and went.
The FTSE 100 gapped slightly lower on Friday only to turn around and reach towards the 50-day EMA.
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Looking back at 2021, the 50-day moving average has acted as a buy-the-dip support level.
The German index has gone back and forth during the course of the trading session on Thursday as we continue to be attracted to the 50 day EMA.
The Parisian index has rallied a bit during the course of the trading session on Thursday, as we continue to hang around the 50 day EMA.
The NASDAQ 100 has fallen significantly during the course of the trading session on Thursday but then turned around to show signs of life again.
The S&P 500 has pulled back during the trading session on Thursday, but then turned around to show signs of strength again as we ended up forming a hammer.
The Parisian index fell significantly during the course of the trading session to peak below the uptrend line that has been so important for a while.
