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The bottom of the gap at 796/794 was tested again on Thursday. The resistance of the gap increased as a result. And yes, on Friday the AEX dropped below the uptrend. We went from 788 to 772 this week. The indicators are moderate although it looks like the Stochastic has had the worst of it. There is some support from previous bottoms at 761 and the real support is at 750.
A bad candle, engulfing relative to the previous one. That is bearish. MACD still high but falling, rest of indicators bad. Towards 750 and a bottom there would be possible with this MACD. But then the uptrend is broken.
Much better than the AEX. Just in the uptrend FF2 rising even slightly faster than EE3. F2 resistance felt this week. MACD positive but falling, rest of indicators a bit weak: seems to be heading towards 34,880 but nothing wrong there either and may be able to bottom.
Had a bad week, but so far so good. This week's candle is not engulfing and just finds support at the 15.720. So far line R5 is holding as well. MACD healthy, rest weak. So it could go lower but it shouldn't be much. For now, it seems rather sideways in terms of indicators.
The DAX is also doing better than the AEX. The DAX is moving back into the original uptrend AA2. Channel DD2 has brought us back into it and may now be gone. What we are left with is the Horn TT2 and that is not a positive pattern. The indicators are not unhealthy but they are all declining, I still take into account some lower prices.
Not much changed, but a bit worse. It looks like we are going to fall below 45,100.
Expectation:
The AEX has suddenly become the weakest brother and is the first to leave the uptrend. The DOW is quite strong and the Nasdaq rather neutral. However, this week the picture has been weak everywhere (including Bitcoin) and the expectation for the coming week is that the AEX could probably go lower again.
Good luck with your investments in the coming week!
- Franciscus Roorda