Markets Bullish: Over-Optimistic and Overbought?

In recent days some trend oscillators have reached a certain level of overbought, and this happens precisely at a time when a monthly setup expires (21/23 November).

At 16:44 of the trading session of 22 November, after an initial uncertainty, the markets steadily moved upwards and we read the following prices:

Dax Futures

14,448

Eurostoxx Futures

3,931

Ftse Mib Future

24,650

S&P 500 Index

3,975.15.

Is the phase of uncertainty left behind, or is today still another excess of optimism and overbought preparatory to a retracement?

Markets pull higher: will they do it as expected?

We are in a phase where we could see some technical adjustments before further increases until the end of the year.

The weekly forecast

weekly fractal

If the expectations are respected from today we should start again on the upside.

The levels that will continue to maintain the upward trend

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.

The markets pull higher, and the light continues to stay green. For now, investing in stocks continues to keep the odds high.

This is despite the oscillators feeling strained. This fact could be justified by the cyclical window which in the historical series has seen rises rather than falls.

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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