Once again markets appear to be in for another choppy day, with no strong directional bias. The futures are slightly negative along with the DAX suggesting a flat open. Market condition scans continue to have a slightly positive bias, suggestive more of poor prospects for shorting. The market bias indicators are neutral.
Similarly, commodities, oil, gold, and silver continue to trade in ranges. However, oil has broken below its 50 day moving average.
| Index | Change | %Change | Level | Phase |
| TSX | +126.33 | +1.13% | 11338.72 | Bullish |
| DJIA | +124.17 | +1.28% | 9789.36 | Bullish |
| Nasdaq | +39.82 | +1.90% | 2130.74 | Bullish |
| SP 500 | +18.60 | +1.78% | 1062.98 | Bullish |
| Russell 2000 | +14.28 | +2.38% | 613.22 | Bullish |
| NYSE | +116.25 | +1.70% | 6939.76 | Bullish |
Source: Telechart
Short Term market outlook:
Bias: Scans showing a slightly positive bias
Energy: 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
Posts
No comments:
Post a Comment