Hi all,
I will be putting up the commentary that I do on a daily basis regarding the major indices, all feedback is appreciated!
Commentary for 15/06/2005
The S&P500 traded higher once again in this session. The index now seems like it will reverse the downtrend in the next few sessions. The index came close to breaking the 1209 level which is where the trend will change and continue upwards. The target stays at 1185 for now.
The Nasdaq 100 traded lower by almost 5 points and is the weakest of all the indices I cover. The index made an inside day in this session, and the next few days will be crucial for this index. It will either lead the way for the other indices and continue with the downtrend, or it will have to change direction by breaking through the 1569 which is the recent high.
The FTSE 100 was relatively unchanged by the end of the session and therefore the trend remains up. The gap is still unfilled and a filling of the gap at 5009 will be the first real sign of weakness, until then the target is 5078 and only a break of 4976 will change the direction of the trend.
The Dow Jones Industrial Index has still not gone into a downtrend and this is a cause for confusion as far as the short term direction for the US indices is concerned. At the moment the Dow has been moving sideways for almost a month, and a break of 10443 will reverse the uptrend which is still technically in tact. A break of this level will put the S&P, Nasdaq and the Dow into a downtrend which will hopefully resolve the confusion seen in recent weeks.
Thanks
I will be putting up the commentary that I do on a daily basis regarding the major indices, all feedback is appreciated!
Commentary for 15/06/2005
The S&P500 traded higher once again in this session. The index now seems like it will reverse the downtrend in the next few sessions. The index came close to breaking the 1209 level which is where the trend will change and continue upwards. The target stays at 1185 for now.
The Nasdaq 100 traded lower by almost 5 points and is the weakest of all the indices I cover. The index made an inside day in this session, and the next few days will be crucial for this index. It will either lead the way for the other indices and continue with the downtrend, or it will have to change direction by breaking through the 1569 which is the recent high.
The FTSE 100 was relatively unchanged by the end of the session and therefore the trend remains up. The gap is still unfilled and a filling of the gap at 5009 will be the first real sign of weakness, until then the target is 5078 and only a break of 4976 will change the direction of the trend.
The Dow Jones Industrial Index has still not gone into a downtrend and this is a cause for confusion as far as the short term direction for the US indices is concerned. At the moment the Dow has been moving sideways for almost a month, and a break of 10443 will reverse the uptrend which is still technically in tact. A break of this level will put the S&P, Nasdaq and the Dow into a downtrend which will hopefully resolve the confusion seen in recent weeks.
Thanks
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