Markets were off to a rough start in the a.m. as world markets were down quite heavily, but were able to rally, although they lost some steam at the end of the day. As long as the indexes can hold the last 7 days or so's levels, they have vW's triggered to new highs.
S&P is trading at its 10ma. Expecting 2015 to 2029 area as long as can hold 1900. Has been balancing around 1947.
The Russell dipped below, but regained its 10ma. 10ma has reversed up in the last couple of days. Still expecting 1190 as long as can hold 1120.
The Nasdaq is above its 10ma as well. Expecting 4500. Has triggered vW to new highs.
The Dow is above its 10ma as well. Expecting 16888 - 17285 as long as can hold 16000.
NYSE
Nikkei 225
The dollar closed below its 10ma. Watch 10ma closely to see if it continues its convergence towards the 50ma, or if lower prices causes it to diverge.
Bonds 10ma crossed below its 50ma. Good sign for stocks.
Gold 10ma converging on its 50ma.
Oil daily and hourly MACD look bullish. If can rally, 56.8 will likely be resistance.
Copper still making gains. 10 ma has bullish convergence towards the 50ma.
XLF's 50ma leveling off at the 200ma. Needs positive price action to avoid a death cross.
IBB rallied 1.89%. 10ma trajectory also is turning up.
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