The S&P500 and NASDAQ closed at all time Highs despite troubling revelations about President Trump aides and the ASX-200 remains in an uptrend despite last week’s carnage that ravaged the Australian Parliament. Markets continue to shrug off bad news and I do wonder what it will take to ever trigger a decent pullback and suspect it will have to be some almighty event; and I don’t think a US President impeachment would even do this. I’m just seeing a headline that Disney has struck a deal to raise the minimum wage of its workers and that NAFTA news looks positive so I suspect these might send a strong vote of confidence through the markets. This post is a summary update about how the chart look for some of the major global stock indices.

 

S&P500:

S&P500 monthly:  the ascending triangle breakout has completed but the 161% fib of this move is near 3,100 which remains the target for this latest move:

 

S&P500 daily: watch for any potential ‘Double Top’ jitters though at 2,880 resistance:

 

DJIA:

DJIA monthly 1: as with the S&P500, the ascending triangle breakout has completed but the 161% fib of this move is near 27,000 which remains the target for this latest move:

 

DJIA monthly 2: However, if 27,000 breaks, I’m watching for any new ascending triangle breakout:

 

NASDAQ monthly: the ascending triangle breakout has yet to complete and the target of this move is near 9,200 which remains in focus here:

 

NASDAQ-100

NASDAQ-100 monthly: the ascending triangle breakout has yet to complete here too and the target of this move is near 8,600:

 

NASDAQ-100 daily: The 7,500 level is the one to beat at the moment though:

 

QQQ monthly: The NASDAQ-100 ETF: the ascending triangle breakout has yet to complete and the target of this move is near 220:

 

Russell-2000 monthly: the ascending triangle breakout has completed but the 161% fib of this move is near 1,750 which remains the target for this latest move:

 

DAX-30 monthly: I’m watching for any new ascending triangle breakout on this index:

 

FTSE monthly:  the ascending triangle breakout has yet to complete and the target of this move is near 10,400. Brexit has been an ongoing concern here though:

 

TSX monthly:  the ascending triangle breakout has yet to complete and the target of this move is near 23,900:

 

ASX-200 monthly: I’m on the lookout for any ascending triangle breakout here too. The level to break is 6,800 and the index remains in a pattern of higher Highs and higher Lows:

 

Nikkei-225 weekly: watch for any triangle breakout here:

 

HSI weekly: I’m still watching to see if this pullback turns into a Bull Flag:

 

HSC50 weekly: this index has printed a bullish weekly candle, albeit an ‘Inside’ one, but this was after finding some support from the 61.8% fib. Watch to see if this level holds: