A bearish phase may have begun for the equity markets

There are many reasons to see markets rally further, but oscillators are starting to show short-term bearish divergences.

At 16:54 on the trading day of 21 November we read the following prices on the international price lists:

Dax Futures

14,381

Eurostoxx Futures

3,907

Ftse Mib Future

24,345

S&P 500 Index

3,941.75.

Down day: could a bear phase have started for the equity markets?

Is the rally close to a temporary stop?

Stop for the Christmas rally? Confirmations or denials will probably arrive by the close of trading this Wednesday.

Expected trend for the week that has just begun

weekly fractal

An important setup will expire between today and Wednesday, and this could hit a relative minimum/maximum and then give way to a directional movement until the first week of December.

The levels with which to keep the pulse of the situation

Dax Futures

Very short bullish trend until there is a daily close below 14.165. Lasting declines only with this week’s close below 14,140.

Eurostoxx Futures

Very short bullish trend until there is a daily close below 3.840. Lasting declines only with this week’s close below 3,840.

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Ftse Mib Future

Very short-term bullish trend until there is a daily close below 24.060. Lasting declines only with this week’s close below 24,060.

S&P 500 Index

Very short bullish trend until there is a daily close below 3.906. Lasting declines only with this week’s close below 3,906.

These are particular days where fate could be decided until the first week of December. In which direction? The very short-term oscillators are overbought, and after the sharp rise from the October lows, a few days of retracement would not be a hypothesis to be dismissed lightly. Could a bear phase have begun for the stock markets?

To have a reliable answer, as usual, attention will be paid to prices and confirmation oscillators.

We invite you to carefully read the Warnings regarding this article and the author’s responsibilities, which can be consulted HERE”

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