OSB Daily Technical Analysis for September 16, 2014

S&P 500 closed below the 20 DMA on Monday and was essentially unchanged from Fridays close. Consolidation of recent gains continues. Bullish bias intact.

Dow 30 The Dow closed higher on Monday and managed to get above the 20 DMA. Dow consolidative mode continues.

NASDAQ 100 Nasdaq action suggested weakness on Monday. The down move found some support around the 4010 level. Strong support at the 4000 level.

FTSE100 The September 14 FTSE contract closed at the key support level of 6800 on Monday after a mixed day of buyers and sellers haggling to give the market direction. Range bound without clear direction for now.

NIKKEI 225 The Nikkei closed essentially unchanged on Monday after finding support just above the 1575 level. Resistance above at 1560-1600 appears significant and a close above these levels is needed to renew upward momentum.

 

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