This morning, we did our Monday Global Market webinar with our subscribers. In the workshop, we analyze major stock markets, currencies, and futures. At the end of the webinar, we made a comment how all the Global markets are a very critical point this week!.
In the analysis, we look at the weekly time frame because it gives a long term perspective. Also, we analyze everything with Ichimoku. In Ichimoku, if price is above the cloud, the sentiment is bullish. If price is below the cloud, the sentiment is bearish. The cloud is the “boundary” on something becoming bullish or bearish long term.
Taking this simple concept, lets analyze all Global instruments and document it in this article.
Please note, since we are looking at the weekly chart, we want to analyze where price closed last week and where it will close this week. All charts are provided by eSignal.
German Stock Market
Below is the weekly chart for the German DAX Stock market. Notice, last week it closed at the cloud, the boundary condition on it going bearish. Right now, price has gone below the cloud and the sentiment is bearish. However, by end of the week, it could hold the support at 10368 and still not be bearish. Therefore, were it closes by end of this week is going to tell us if the German stock market has changed sentiment to be bearish long term.
France Stock Market
Below is the weekly chart for the France stock market. Just like the German stock market, it closed at the boundary condition of the cloud. If it closes below the cloud at the end of this week, it will be bearish longer term.
London Stock Market
Below is the monthly chart for the London stock market. It is approaching it “boundary” condition at 5833.
Israel Stock Market
Below is the weekly chart for the Israel Stock Market. Last week it closed at the cloud boundary at 6007.29. Where it closes this week will be critical too.
Saudi Arabia Stock Market
Below is the monthly chart for Saudi Arabia Stock market. It is at the boundary condition at 6744.78. Where it closes at the end of the week will tell the long term sentiment.
China Stock Market
Below is the weekly chart for the China stock market. It is below the cloud but it is held up by a major support at 3583.41.
US Stock Market: Dow
Below is the weekly chart for the Dow Futures. It is at the boundary condition. Where we close this week will be critical for the weekly sentiment.
US Stock Market: SP500
Below is the weekly chart for the E-Mini SP500 futures. It is approaching the boundary condition of 1975.00. Where we close by end of this week is going to be critical.
US Stock Market: Nasdaq
Below is the weekly chart for the Nasdaq future. Last week it closed at the short term support. If it closes above this value by end of the week, the Nasdaq will still be bullish.
10 Year Treasury Notes
Below is the weekly charts. Price is back to the boundary condition resistance. Where it closes this week will be critical.
Below is the weekly Dollar Futures. It closes at the short term support. Where we close this week will dictate if we are going to continue to pull back or the pull back is over and we are going to retest the high.
We have never seen soo many Global instruments at major support/resistance on a weekly time frame ever. It is all interesting to see this happening around the following events this week:
- US Fed Rate Decision
- US “Quadruple Witching” for options
- End of Year “Close out”
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