Futures are marginally negative today. The DAX is positive. This suggests a mixed to positive open. Market condition scans are showing a neutral bias along with the market bias indicators. Price action will likely be similar to yesterday, with no strong directional bias. Swing trading remains a challenge. Volumes remain below their 25 day moving average on all the indexes indicating little institutional interest needed to power any bullish moves. The markets remain in a bullish phase. Friday is option expiry day, which will likely increase market volatility today and tomorrow.
| Index | Change | %Change | Level | Phase |
| TSX | +12.99 | +0.12% | 10686.83 | Bullish |
| DJIA | +61.22 | +0.66% | 9279.16 | Bullish |
| Nasdaq | +13.32 | +0.68% | 1969.24 | Bullish |
| SP 500 | +6.79 | +0.69% | 996.46 | Bullish |
| Russell 2000 | +5.22 | +0.94% | 561.65 | Bullish |
| NYSE | +42.21 | +0.66% | 6479.28 | Bullish |
Source: Telechart
Short Term market outlook:
Bias: Scans showing a neutral 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
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