Sunday, February 22, 2015

Indices Performance Chart - 21 Feb 15

US and Europe markets closed higher this week while Asia is a short trading week with little changed.

The following Indices, Dow, Nasdaq, S&P 500, Russell 2000, DAX (Germany), Nikkei (Japan), FTSE 100 (UK) and CNX NIFTY, NSE (India) had hit new high since 2006.

Some of the Indices going to hit test recent high (4 charts within green box) while some are laggard (6 charts on the left), worth to  take a look.

Instruments that show buying interest from Dealer/Intermediary (sell-side participants)

Up Trend

  • Dow (decreased for 3rd week)
  • Nasdaq (decreased for 2nd weeks)
  • S&P (decreased for 2nd week)
  • Russell (decreased for2nd week)

(1) COT Index > 90
Down Trend and Up Trend is based on 50 Simple Moving Average 

US markets closed higher and create new high this week.  There are also 2 outside days on Dow, S&P and 1 outside day on Russell for this week.  This will have "washed" the weak holder for long and short traders.  Fri closing with new high will have triggered SL for some short traders.  Nasdaq is the best performer this week in US.

Have took partial profit on some add-on positions when broke pdl (previous day low) to protect profit and added some on positions on using LHF and Taos SL.  The small gain this week is a good sign to me for markets to get higher progressively.  Don't get too over excited, markets move up in wave form and not straight line.

Daily Chart (Outside Day - New Trend)

Weekly Chart

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