Tuesday was a moment of truth for S&P500 and DAX. Uncertainty is back, it is connected with Chinese economy, February macro data was much worse than expected. Being close to important resistances didn’t helped, they stopped increases and caused rebound. For DAX it is at 9,910 pts – price got closed to this level last week and so far it stopped gains. In case of S&P500 it is 2,000-2,020 pts area where after two sessions of strength there was rebound.
As a result all major indices depreciated: US S&P500 -1.12%, NASDAQ -1.26%, German DAX -0.88%, English FTSE100 -0.92%, French CAC40 -0.86%. We shouldn’t expect going far from these levels on Wednesday. This situation can only be changed by Mario Draghi during Tuesday’s conference.
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DAX future for a moment broke a support on 9,680 pts to rebound above another support which is at 9,600 pts. If gains will come back another resistances are at 9,770 pts, 9,850 pts, 9,910 pts.
