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Above is H-A chart for SP500

In America:

SP500 +0.45%
Dow Industrials +0.47%
Nasdaq100 +0.17%
Dow Transports +1.02%
Russell 2000 +0.85%
Comment: Dow and SP500 both up moderately. Nazzie was flat. Volume was below average. There’s not a lot of conviction in this market at the moment – by either side, bulls/bears.

NewHighs/NewLows. NH>NL. 358/13. Ratio: 96.5%. In the Do Not Sell Zone. New Lows are non-threatening. (Yahoo Finance reported 55 New Lows. Which indicates some panic selling. I wish I knew which was the more reliable source.)

Technical Comment on the SP500:

The SP500 finished at 1551.18. Support: 1526.7. Resistance – blue sky.

MACD Histogram. Above zero. Positive. But falling. Short term longs taking profits.
MACD. Above zero. Positive. Buy the dips.
RSI.9 is at 71.7. Normally this is overbought. Now, in these abnormal times, it just shows we have a strong trend.
Stochastic. 96.4. Overbought.
CCI.14: +138.7. Overbought.
ADX: Flat, with negative divergence. Momentum is slowing.

The Heiken-Ashi chart of the SP500 shows that the market is in a strong up trend. Don’t buck the trend. Nothing more to say.

Good to see Volt is back.

Redbacka