NQ
London, early-morning, we’re currently sitting at 25,097 - almost exactly where we were last week. Internally, above us, we also have similar local pivots of 25,375-88, then 25,453, 25,917, 25,968-98. Below us are 24,650, 24,560, and 24,443.
We’re currently sitting in the upper range of the 5-day composite as of early London, above the POC sitting at 25,001. The composite high is at 25,190; acceptance above opens our upper levels as noted above, beyond 26,178, 26,177, and 26,257-72.
On the downside, pushing through our lower levels and accepting below the composite low of 24,770 and our lower 500 levels opens up 24,443 - a loss of this opens a run of the lows at 24,238. Then, lower we have 24,145-190, and then 24,030. A loss of that opens up a run through 23,800 to 23,650.
ES
ES - S&P remains difficult, sat in recent balance. Weakness gets bought fairly quickly, whilst strength gets hit just as fast. Support once again lies at the 6775 areas, whilst resistance is capped first at the 20-period MA of 6895, followed by the upper band of the range at 6990 areas.
GC
London, early-morning, we’re currently sitting at 5,122, internally above we have 5,197 and 5,210. Above that, 5,261, 5,309, and 5,333 before the main one towards ATHs at 5,555
Below, internally, we have 5,090 as a weaker pivot, 5,055, 5,010, and 4,931. Then, we have 4,885-76, 4,807, then weaker pivots 4,744 to 4,714 ahead of 4,607 and 4,521.
Cable (6B)
Cable (6B) - The cable is largely still weak due to ongoing turmoil in the Middle East and a poor domestic outlook for the UK economically. Resistance has moved lower to 1.3450 and 1.3500, with support targeted below at 1.31 and 1.3040. Through here opens the way to 1.2860.
DAX
Dax - Weakness over the US dominated the week, with Dax running down to 23613 at the time of writing. With gaps above, bears seem to be nicely in control of the market at the moment. Resistance sits at 24280 areas, followed by 24693. Through this week's low targets are 23200, followed by 22971.