OSB Daily Technical Analysis for September 9, 2014

S&P 500 Consolidation and close at 2000.6 for the S&P 500 Sept14 contract. Recent strength remains intact and consolidation at these levels is likely. The S&P is in uncharted territories and some pull back are likely.

Dow 30 The Dow formed a doji candlestick on Monday indicating trader indecision about whether to be buyers or sellers in the Sept14 contract. The recent strength of the Dow coupled with new highs begs the question: higher or lower? Bullish bias.

NASDAQ 100 Positive day for the Nasdaq with a slight push higher. Bullish with some indecision.

FTSE100 Sellers dominated trading in the FTSE100 on Monday as news of the Scottish Yes vote gathered momentum. The FTSE is likely to remain volatile in the next several sessions as sensitivity about the Scottish question remains high.

NIKKEI 225 A push higher for the Nikkei closing at just above the 1580 resistance level. The Nikkei is at the top of its recent trading range and likely to face some resistance at these levels. A move above the 1585 handle is positive and adds to the bulls case.

 

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