Sunday, March 1, 2015

Indices Performance Chart - 28 Feb 15

Most markets continue to close higher this week except for STI  which closed at DL on Fri. 

On a weekly chart, STI had formed a outside day and closed below Diff SL (3409.38), more potential downside.  On a daily chart, if STI is unable to trade and close above the support (magenta dash) , STI may cover the gap (22 to 23 Jan).  William %R is at the extreme, possible STI may have a rebound soon, whether it is a recovery or technical rebound to test lower, watch for price action.

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

Up Trend

  • Dow (increased for 1st week)
  • Nasdaq (decreased for 3rd weeks)
  • S&P (increased for 1st week)
  • Russell (increased for 1st week)

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

On weekly charts, US markets continue to go higher.  On daily charts, DOW and S&P look exhausted on the last 2 days of  the week when broke PDL.  I have some short positions on Dow and S&P to hedge against some of my long positions.

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