give the buyers more money - thursday, page-5

[IMG]http://i41.tinypic.com/se7p60.png[/IMAbove is a Candle Stick chart for the SP500.

In America:

SP500 -0.07%
Dow Industrials -0.39%
Nasdaq100 -0.01%
Dow Transports -0.42%
Russell 2000 -0.08%

Comment: The market is out of balance. That’s rarely a good sign. It will resolve itself – but at this stage there are a lot of conflicting interests at play. At this stage it’s in limbo. Volume on the SPX was up on yesterday.

In Europe.

French CAC: -0.92%
German DAX: -0.69%
London FTSE: -0.35%
Italy MIB: +0.57%

NewHighs/NewLows. 119/33. Ratio: 78.3%. NL
Technical Comment on the SP500 (closed at 1693.87)

Indicators:

MACD Histogram: Below zero. Negative.
MACD: Above zero. Positive.
RSI.9 is at 52.2. Positive.
Stochastic. 27.6. Negative.
CCI.14: -73.3. Rising above -100. Positive.
Money Flow: 53.9. Above its mid-line.
Momentum: -3.7. Hovering around zero. Neutral.

Support and Resistance:

40-Day TMA: 1668.8.
Major Horizontal Resistance: 1709.7 (+0.93%)
150-Day TMA: 1636.6.

Today’s candle has a long lower tail indicating buying pressure. This can go either way, but the market appears to be preparing for a relief rally assuming that the shutdown of American government services will be resolved in the near term. If it drags on, this will fall heavily.

Finally, a few things that might affect our market on Wednesday (particularly Energy and Materials): US$ Gold ETF, +1.98%; Copper ETF, +0.68%; Light Crude Oil ETF, +2.02%; Coal ETF, +0.52%; Steel ETF +0.95%; AUD, +0.28%. The Ozzie Stocks ETF on the NYSE (EWA) -0.04%. BHP on the NYSE +0.66%. Those are good numbers for Australia today.

Redbacka