Bulls on the run

Previous post disappeared, but I mentioned key support levels for Euro Stoxx 50 (2 100) and S&P 500 (1 300). These levels were tested yesterday and they hold. Today bulls took over, illustrated below by the clear break of resistance (2 200) for Euro Stoxx 50. This is strong price action from an obvious bottom formation, with positive momentum divergence etc.

Today's action indicates that prices will move higher in the short term.

Euro Stoxx 50 - buy signal

Previuos post:
"Euro Stoxx 50 is still building on the right shoulder of a potential inverted head and shoulders pattern. After hitting resistance at 2 200 today, price reversed. If 2 200 is cleared, next move would be to the 2 350 area." The right shoulder was completed and we now have a buy signal in place after clearing 2 200:

Euro Stoxx 50 - update

Euro Stoxx 50 is still building on the right shoulder of a potential inverted head and shoulders pattern. After hitting resistance at 2 200 today, price reversed. If 2 200 is cleared, next move would be to the 2 350 area.

S&P 500 – buy signal

S&P 500 has broken out of an inverted head and shoulders pattern and given a buy signal. Price target is the 1 375 – 1 400 area.

Euro Stoxx 50 - to 2 100, then continued move to the upside?

Euro Stoxx 50 seems to be forming an inverted head and shoulders pattern, with the right shoulder currently underway, targeting the 2 100 area. Next move would be to the 2 350 area, if 2 200 is cleared.

SPX - to 1 300-1 310, then continued move to the upside?

S&P 500 seems to be forming an inverted head and shoulders pattern, with the right shoulder currently underway, targeting the 1 300 - 1 310 area. Next move would be to the 1 375 - 1 400 area.