sp'weekly1b
Germany - DAX, monthly
Summary
A weekly close in the sp'2060/50s looks very probable, and that will keep open the door to the 2020s next week.
I suppose its even possible we'll test the 2010/00 zone - where the 50dma is lurking, but regardless.. we still look set to then push broadly higher into year end. Indeed, the Dow, sp'500, and Nasdaq could all break new historic highs into year end.
Pretty incredible.. considering the bearish price action of late Aug/September.
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re: German DAX. A year end close above the monthly 10MA (currently low 11000s) will be very important. However, if the market is inspired by renewed confidence in the US Fed, the 12000s remains viable... and that would no doubt help improve sentiment across the rest of the EU markets.
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Looking ahead
Thursday will see the usual weekly jobs, the latest EIA report, and the US Treasury Budget.
*there is a veritable truck load of Fed officials speaking, inc' the Yellen, Bullard, Dudley, with Fischer due AH.
Mr Market will no doubt keep an eye on any comments, not least about anything alluding to a possible rate hike at the Dec' FOMC.
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Goodnight from London