SP500 (SP) broke 789 Nov 14 and reached 802. Could not hold that level so a fall came last hour in NY to test 789 again. That level held and SP closed at 791:64. The high this morning has been 793 but now the 2 hr 8 MA is holding the index below at 791. I think a second test of 789 ought to come within the next few hours. If 789 should be broken and held below, then the next target is first 776.
SP have many Nasdaq (NAS) stocks among the 500 shares and that index suddenly does not look as strong right now. Month, week, day and 2 hr will be shown below so you get an idea. So instead DOW has become the strongest US index. Since my job still is to find any weakness in this nearly five years long bull market and I showed you last night that DOW, SP500, FTSE and DAX now follow each other I might concentrate on the DOW and SP500 to a lesser degree.
DOW's month, week and day trends are up and I expect the DOW to at least hit the 13 year top line around 16.130. High Monday was 16.027.7. Last hour it fell down to test its important resistance line at 15.955 which held. This morning the 2 hr 8 MA is down BUT the very strong 21 MA is rising below and makes it difficult to get below. SP has its 21 MA above and it is sideways to down a very important difference technically. A new interesting trading day. Here is NAS.
Month
Week
Day
2 hr
SP have many Nasdaq (NAS) stocks among the 500 shares and that index suddenly does not look as strong right now. Month, week, day and 2 hr will be shown below so you get an idea. So instead DOW has become the strongest US index. Since my job still is to find any weakness in this nearly five years long bull market and I showed you last night that DOW, SP500, FTSE and DAX now follow each other I might concentrate on the DOW and SP500 to a lesser degree.
DOW's month, week and day trends are up and I expect the DOW to at least hit the 13 year top line around 16.130. High Monday was 16.027.7. Last hour it fell down to test its important resistance line at 15.955 which held. This morning the 2 hr 8 MA is down BUT the very strong 21 MA is rising below and makes it difficult to get below. SP has its 21 MA above and it is sideways to down a very important difference technically. A new interesting trading day. Here is NAS.
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