Thursday, October 19, 2017

All Day Recovery

It had looked bleak for markets at the open following a big gap down. However, this was just a temporary hit as markets came back right from the open.  It's also good news for bulls or long holders. The S&P shows this best.


The Dow Jones actually went as far as to test former upper channel resistance, now turned support.  Volume climbed in accumulation.


The Nasdaq was less successful in making back lost ground but as it's in a bit of a no-mans land there isn't too much to spin it one way or the other.


The one point of interest is the Russell 2000. It tagged the 20-day MA on a neutral 'spinning top'.  However, the MACD trigger 'sell' is still in play.


For tomorrow, look for gains to take markets to new highs or challenge existing highs (Russell 2000)

You've now read my opinion, next read Douglas' blog.

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Dr. Declan Fallon is a blogger who trades for fun on eToro and can be copied for free.
. I invest in my pension fund as a buy-and-hold.
 
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