April 12, 2014

US markets

The Dow Jones has been trading in a range between 15300 and 16600 for quite some. It has now lost 600 points off the highs and has also broken and closed below the recent swing low.

Expect more weakness below 1600. Holding/ sustaining above 16500 will be strongly bullish.

The S&P500 has decisively broken the swing low at 1840... trend is down and will turn bullish on close above 1880.

The NASDAQ took the early start in the US markets correction when it first broke 4250. Ironically, while the rest of the market has just started corrrecting, the NASDAQ is likely to bounce off a strong support region at 4000.

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