Bulls Recover Intraday Losses

While the indices finished at prices without fanfare yesterday, the intraday recovery was very good. The spiked down to its 20-day and 50-day MA with a bullish hammer. Volume climbed to register as accumulation. Technicals remain net bullish although relative performance eased.

S&P 500 Chart

The generated a ‘hammer’ on its 50-day MA. Technicals are more mixed with On-Balance-Volume returning to a ‘sell’ trigger as part of a downtrend since the start of August is the only negative.

COMPQ Chart

The closed with an inside day, touching against the 200-day MA. Relative performance ticked above its long standing downward trend since June. The index is moving into a price void with the spike high at 1,600.

RUT Daily

The closed near the high of its breakout rally. Volume climbed in accumulation.

INDU Chart

Indices didn’t do much yesterday, but what they did do offers a positive outlook for today.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks

Read More Here...

Bookmark the permalink.