Stocks had a mild down day as expected, with little movement most of the day and a push to sell towards the end of the day. Today is the first day that the US Federal Reserve will start buying bonds. It is most likely that market players are waiting to see the impact this will have. Gold is still in a sideways trend along with silver. Oil remains above $50 but remains in resting mode.
As of this writing, futures are mildly positive and the DAX is negative, indicating a mixed to negative open. The market condition scans are showing no strong bias. The market bias indicators are also neutral, giving us no clear indication of market direction for today.
| Index | Change | %Change | Level | Phase |
| TSX | -109.12 | -1.22% | 8849.39 | Recovery |
| DJIA | -115.65 | -1.49% | 7660.21 | Recovery |
| Nasdaq | -39.25 | -2.52% | 1516.52 | Recovery |
| SP 500 | -16.57 | -2.01% | 806.35 | Recovery |
| Russell 2000 | -16.94 | -3.91% | 416.78 | Bearish |
| NYSE | -121.53 | -2.34% | 5064.33 | Recovery |
Source: Telechart
Short Term market outlook:
Bias: Scans showing a neutral bias
Energy: Weak
Primary Trend: Remains down
| Sector | Phase |
| Consumer Staples | Bearish |
| Healthcare | Bearish |
| Technology | Recovery |
| Utilities | Bearish |
| Energy | Recovery |
| Financials | Recovery |
| Industrials | Bearish |
| Materials | Recovery |
| Consumer Discretionary | Recovery |
Source: Telechart
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