The S&P 500 is trading down -0.43%. The Dax loses -0.48%, other European markets are also trading down. Disappointment over the ECB´s current refusal to expand monetary policy remains in the markets.The ECB will purchase 80 Billion Euros of bonds. on a monthly basis until March 2017. Investors were hoping for signs from Draghi, that this program would be extended beyond March of next year. Amongst the losing stock today is the real estate company Vonovia, who's takeover of Conwert is seen skeptically. Deutsche Bank is today´s best performer gaining 4%, due to speculation that the Bank has come to an agreement with the US Justice Department. The USD is trading up against the Yen and Euro. We expect a weaker start to Wall Street.
The S&P500 is in an upwards trend. Short term we are in a sideways move. Resistance is at 2197 and support is to be found at 2150.
The Nasdaq 100 is in an upward trend. Short term we see a sideways move. Resistance is at 4837 and support is to be found at 4767.
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