Dow Jones Industrial Average: -14.28 or 0.14% at 10318.16
S&P 500 Index: -3.52 or 0.32% at 1091.38
NASDAQ Composite Index: -10.78 or 0.50% at 2146.04
NYSE Internals: 1274 Advance. 1716 Decline.
Nothing much has changed from yesterday. The market virtually didn't move at all today on a closing basis. We did however break yesterday's low on the SPX intra-day. But nevertheless, nothing has changed.
If we continue to pullback, the key levels to watch for are 1081 and 1071. If we break both of those, we may head a little lower. If we make it to 1071-1081 and the bounce from there is impulsive, we may make new highs and one of my bullish counts will be in play.
There seems to be a head and shoulders target appearing on some of the time frames. We have seen this pattern fail the past few times, but regardless, we never know when it may decide to work. :)
The target is around 1060. 1061.59 is also the 61.8% retracement level from the 1029 low to the 1113 high.
I will try my best and post a weekend update with more charts and info.
US Dollar was up. Crude was down and Gold was up. VIX was down. Energy once again led to the downside.
0 comments:
Post a Comment