The S&P 500 ran into resistance at 1700, but long tails on the last two days indicate support at 1675. Follow-through above 1700 would offer a target of 1800. The 21-day Money Flow trough above zero indicates a healthy up-trend, but a lower peak than May would warn of selling pressure. Reversal below support at 1650 is unlikely, warning of another test of primary support at 1560.
The VIX below 15 indicates historically low market risk.
Germany’s DAX is retracing, but as long as it respects medium-term support at 8000, the primary advance is intact. Breakout above resistance at 8500 would offer a long-term target of 9500. A 21-day Money Flow trough above zero would strengthen the signal. Reversal below 8000 is unlikely, but would warn of another test of primary support at 7700.
The FTSE 100 displays selling pressure, with 21-day Money Flow retreating below zero. Reversal below 6500 would warn of another correction. Respect of 6500 is unlikely but would indicate an advance to 6900/7000.
