Futures are marginally positive and the DAX is positive, indicating a flat to positive open. The market conditions scans are marginally positive, with weak energy. The market bias indicators are showing a weak bias to the negative. This suggests a choppy narrow range day for today, as markets remain technically oversold with high stochastics readings and many stocks nearing resistance levels.
The FOMC (US Federal Reserve) will be making its interest rate decision this afternoon, which may also be keeping a cap on market action. The US Dollar continues to be weak, supporting the Canadian Dollar and the Aussie Dollar.
| Index | Change | %Change | Level | Phase |
| TSX | +161.12 | +1.41% | 11585.73 | Bullish |
| DJIA | +51.01 | +0.52% | 9829.87 | Bullish |
| Nasdaq | +8.26 | +0.39% | 2146.30 | Bullish |
| SP 500 | +7.00 | +0.66% | 1071.66 | Bullish |
| Russell 2000 | +4.72 | +0.77% | 620.69 | Bullish |
| NYSE | +78.54 | +1.13% | 7047.54 | Bullish |
Source: Telechart
Short Term market outlook:
Bias: Scans showing a positive bias
Energy: moderate to weak
Primary Trend: sideways
| Sector | Phase |
| Consumer Staples | Bullish |
| Healthcare | Bullish |
| Technology | Bullish |
| Utilities | Bullish |
| Energy | Bullish |
| Financials | Bullish |
| Industrials | Bullish |
| Materials | Bullish |
| Consumer Discretionary | Bullish |
Source: Telechart
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