I have been reading a lot of market predictions for 2015 and I really cannot “predict” what 2015 holds for us. I mainly focus on the markets intraday so trying to predict what the entire year will be — well that’s a lot of 45 minute bars.
Market Predictions for 2015 – Or Just Tomorrow?
But for tomorrow, I think the key levels for Gold, Crude, Dow Jones, Nasdaq, DAX and ES are represented pretty well with the lines on the charts below. (Click on the chart to expand.)
It looks as if the Dow will continue down unless it is able to break thru the overhead resistance.
The Nasdaq looks like it will continue down to at least 4180 and possibly lower, depending on the volume when it reaches the 4180 area.
It looks like there is a lot of overhead resistance on the mini S&P 500 so I would expect price to reach the lower level around 2030.
The FDAX is currently testing resistance above. If it cannot break the resistance it will return to the last area of support and retest.
If Gold can break the areas of resistance immediately above it, we may see a rise to around 1220.
Crude has formed a double bottom at the moment but sellers maintained control and were not decreasing. We may see another test of the low.