U.S. STOCK INDEXES The Dow closed sharply higher on Monday as manufacturing activity rallied to 2-year high signaling that the economy began picking up steam at the start of the year. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow resumes the rally off February's low into uncharted territory, upside targets hard to project. Closes below the 50-day moving average crossing at 30,891.90 would signal that a short-term top has been posted. First resistance is last-Wednesday's high crossing at 32,009.64. Second resistance is unknown. First support is the 50-day moving average crossing at 30,891.90. Second support is January's low crossing at 29,856.30. The March NASDAQ 100 closed sharply higher on Monday as it consolidated some of the decline off February's high. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 13,457.49 would signal that a short-term low has been posted. If March extends this month's decline, January's low crossing at 12,491.25 is the next downside target. First resistance is the 20-day moving average crossing at 13,457.49. Second resistance is February's high crossing at 13,900.50. First support is last-Friday's low crossing at 12,662.25. Second support is January's low crossing at 12,491.25. The March S&P 500 closed sharply higher on Monday as it consolidated some of the decline off February's high. Today's close above the 10-day moving average crossing at 3888.63 confirms that a short-term low has been posted The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally into uncharted territory, upside targets will be hard to project. Multiple closes below the 50-day moving average crossing at 3806.28 would confirm that a short-term top has been posted. First resistance is February's high crossing at 3959.25. Second resistance is unknown. First support is the 50-day moving average crossing at 3806.28. Second support is February's low crossing at 3656.50. 
U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown. All trades, patterns, charts, systems, etc., discussed in this message and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author and do not necessarily reflect those of the publisher or INO.com. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the methodology or system will generate profits or ensure freedom from losses. The testimonials and examples used herein are exceptional results, which do not apply to the average member, and are not intended to represent or guarantee that anyone will achieve the same or similar results. Each individual's success depends on his or her background, dedication, desire, and motivation. | |
No comments:
Post a Comment