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September 18
friday update
SHORT TERM: market moves higher on option expiration friday, DOW +36
Overnight most of the Asian markets were lower. Europe opened lower and closed mixed. US index futures were higher overnight and at the open hit SPX 1071 in the first few minutes. The SPX closed at 1064 yesterday. By 10:00 the SPX dipped to 1065, bounced to 1069 by 10:30, and then 1064 by 12:00. That was the low for the day, at yesterday's close. Then the market moved to the high of the day at SPX 1072 by around 3:30 and eased back some into the close. For the day the SPX/DOW were +0.30%, and the NDX/NAZ were +0.25%. Bonds lost 18 ticks, Crude dipped 70 cents, Gold slipped $6.00, and even the Euro was lower. Support for the SPX remains at 1061 and then 1041, with resistance at 1090 and then 1107. Short term momentum remained around neutral for most of the day. Best to your weekend!
MEDIUM TERM: uptrend high SPX 1075
LONG TERM: bear market
CHARTS: http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1606987
September 18
friday update
SHORT TERM: market moves higher on option expiration friday, DOW +36
Overnight most of the Asian markets were lower. Europe opened lower and closed mixed. US index futures were higher overnight and at the open hit SPX 1071 in the first few minutes. The SPX closed at 1064 yesterday. By 10:00 the SPX dipped to 1065, bounced to 1069 by 10:30, and then 1064 by 12:00. That was the low for the day, at yesterday's close. Then the market moved to the high of the day at SPX 1072 by around 3:30 and eased back some into the close. For the day the SPX/DOW were +0.30%, and the NDX/NAZ were +0.25%. Bonds lost 18 ticks, Crude dipped 70 cents, Gold slipped $6.00, and even the Euro was lower. Support for the SPX remains at 1061 and then 1041, with resistance at 1090 and then 1107. Short term momentum remained around neutral for most of the day. Best to your weekend!
MEDIUM TERM: uptrend high SPX 1075
LONG TERM: bear market
CHARTS: http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1606987