US money flow 1.3.2012

US cumulative money flow still on a negative side. During last 10 days, there's been only 4 days with positive money flow.

Yet, S&P 500 is seemingly flirting with it's longer term resistance at 1376,1. Upper resistance lies on Fibonacci level 1381,5. 

It seems that big players are not believing for further upside and have been (or started) selling near important resistance. 

Dax monthly resistance

Previous month highs could be important support/resistance area:

December high: 6170,04
November high: 6193,34

Dax resistance/support

It looks like level 5767 has been acting quite important resistance / support level since for a month. Let's see how Dax can break upside and how it will support after that. If break above, it would be natural to reach 5850 and touch the 1 hour SMA(20), maybe test the 5767 support and then try to reach above 6000.

Short term view: break up to 5850 or pullback to 5720?

Dax week 50

Support 5568?

The market has been acting quite difficult lately. Last week it seemed that 5568 is a downside target. Now the market is in a very interesting situation. 5568 is inevitable and there should(!) be a support with rising trend line. If this line breaks then we should see more downside and testing the 5360 lows would be probable. Now it would be nice to have a santa claus rally to begin. Upside target/resistance 5884 -5942 (no more than maximum 6070).