In my last blog “finding-a-market-top” I expected the past week to start lower for US index then a rally to new fresh ATH. Well it started as expected with Monday decline for the SPX, gap down open on Tuesday and turnaround to a promising rally but surprisingly interrupted by president D.Trump “tariff tweet”. The tweet about 10% tariffs on another $300 billion in imports from China worried investors as the S&P 500 tumbled more then 100 handles from Wednesday to Friday.
My forecast for the coming week is a rally that should start from Tuesday on and this time could take the SPX to the highs I expected in my earlier post. A bear rally and possibly a break up to new ATH to trap the bulls on a subsequent sharp decline later in August / September.
And here follows my expectation for trading the #DAX from Monday, August 5th and on. The German index has reached a projected downside price following a break below a TD demand line to a TDST support level on daily chart.
The DAX is expected to print a low in the firs half hour of Monday trading and start a move up to retest 12100 level.
Trade well ;o