Are we due for a serious correction? I think we are. Negative divergences in the weekly and monthly timeframes seem to support such a view. But at what level will it commence? The most likely candidates are 420 (double top; AEX Daily Chart) and the 435-450 range (yearly trend channel; AEX Monthly Chart).
Although TTIP is not into reading tea leaves it makes sense to keep the above in the back of your mind.
Support is at 409-411, 402, 392 and 380. Resistance is at 416 and 420. All, rounded, numbers are based on the daily timeframe.
These numbers correspond with the purple horizontal dotted lines in the embedded AEX Daily Chart (AEX Daily Chart).
For an explanation of the abbreviations and the Trend Trade & Investment Principle see the bottom of this blog. Please also read the disclaimer there.
AEX @ 414,23. (AEX Daily Chart).
Daily SMA-55 positive and Channel upslope. TTIP mode since 26-08-2014 as of 412,93 (Stoploss just below 409).
Last TTIP mode since 18-07-2014 as of 404,40 ended 07-08-2014 as of 394,20 with a profit of of 2,52%.