fortuitous friday, page-5

In America:

Dow Industrials +0.2%
Dow Transports +0.61%
SP500 +0.3%
Russell 2000 +0.39%
Nasdaq100 +0.08%

Comment: The market eked out small gains after being up early.

NewHighs/NewLows 95/42. NH>NL. The ratio of NH/(NH+NL) is at 69.3%. Out of the Do Not Sell Zone. New Lows are still indicating a lot of investor nervousness, but still below 50.

Technical Comment on the SP500:

The SP500 finished at 1412.97. Support/resistance: 1365/1419
MACD Histogram. Below zero. Negative.
MACD. Below zero. Negative. Histogram rose today.
RSI.9 is at 33.8. Oversold.
Stochastic. 8.2. Oversold.
CCI.14: -131.4. Oversold.

The medium term trend is down. The short term trend is down. Long term trend (from October, 2012 is still up.

The momentum indicators suggest at least a short term bounce is possible.

Apple and Amazon reported after hours. Apple in after hours trading is relatively flat, Amazon is down about -1%. Neither of those reactions appears to be capable of moving the market decisively. But they've done nothing to shake the generally negative tone of reporting season.

Redbacka