Markets had a volatile session with the Russell leading the way. The session started with a rally, IBB was up over 3%, but it couldn't be maintained. Indexes and the IBB then fell over 1% but closed of their lows. Asia was down heavily with the Nikkei down over 4% . Europe closed down as well.
/ES has 10 and 30 minute bullish MACD convergence and could be forming a double bottom towards 2015. However it will have some tough levels to get through... the LVN at the 1890 area, the double bottom breakout point at 1942.5, the gaps at 1960.76 and 1975.25, and then 2000-2020. If /ES makes new lows from here, expecting much lower.
The Russell also has bullish MACD convergence.
The Nasdaq hasn't hit its nearest vM price targets.. It also has the bullish MACD convergence.
/YM also short term bullish MACD
The Nikkei fell over 4%, dragging the 50ma below the 200ma(death cross). Hourly MACD looks like could be heading towards zero, but there is no convergence with price.
The Dollar is still trading between converging ma's
Bonds still looking bullish.
Gold has 30 min and 1 hr bearish divergence. Daily and Weekly has MACD bullish convergence
Oil still sitting around $45.
XLF
IBB rallied over 3% in the a.m., then reversed down over 1%. It closed off the lows.
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