OSB Daily Technical Analysis for September 10, 2014

S&P 500 Down day for the S&P 500 finding support at the 20 DMA only to close above at 1989.70. The S&P have gained almost 100 points since the beginning of August with minor corrections on the way. Some consolidation at these levels is likely and to be expected.

Dow 30 The Dow followed suite with the S&P 500 and gave up some of its recent gains losing 115 points and finding support above the 17000 level. The Dow is likely to enter a consolidation phase following recent gains.

NASDAQ 100 The Nasdaq initially headed higher during early trading before heading lower to close negative for the day and at support levels close to the 4065 area.

FTSE100 Positive day for the FTSE following a mixed day of trading. The FTSE is at a significant support level and is likely to trade within a range for now.

NIKKEI 225 The Nikkei moved lower on Tuesday forming a bearish engulfing candle. This suggests that the Nikkei might be preparing to move lower from here. Support is at the 1560 level.

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