Most of the indexes were able to close in the green on Friday, with the exception of the TSX, which closed marginally down. This morning, futures are negative along with the DAX, indicating a down open. The market condition scans are showing a neutral bias, fading momentum, and no strong sell momentum. The institutional investors appear to still be in the markets. The market bias indicators are also giving a neutral signal, suggesting a sideways market for today.
Gold has dropped below the $1000 mark, and it will be interesting to see if this is just a temporary pullback. The US Dollar is also moving up today, but remains below its 50 day moving average and the primary trend for the US Dollar remains down. Oil continues to trade in a tight range.
| Index | Change | %Change | Level | Phase |
| TSX | -82.28 | -0.71% | 11445.95 | Bullish |
| DJIA | +36.28 | +0.37% | 9820.20 | Bullish |
| Nasdaq | +6.11 | +0.29% | 2123.86 | Bullish |
| SP 500 | +2.81 | +0.26% | 1068.38 | Bullish |
| Russell 2000 | +2.41 | +0.39% | 617.88 | Bullish |
| NYSE | +14.75 | +0.21% | 7016.92 | 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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