OSB Daily Technical Analysis for September 12, 2014

S&P 500 Slight edge higher for the S&P 500 and a retest of the 20 DMA. Bullish and looking to move higher from here. Buy only mode.

Dow 30 Close slightly lower than Wednesday’s close for the Dow forming a hammer. Some sideways action and consolidation likely. Bullish and upside bias intact.

NASDAQ 100 Nasdaq closed higher on Thursday and looks likely to be ready for another upswing. A close at a new high confirms this recent move.

FTSE100 High volatility for the FTSE closing just below the key 6800 support level. A bounce back within the recent range and continued volatility is likely as the FTSE looks for direction and certainty about the where to go next.

NIKKEI 225 The Nikkei closed just below the 1590 level for the second consecutive day. Resistance above is significant and a test of this level is likely as the Nikkei digests recent up moved and prepares for a continuation of recent bullishness.

 

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