OSB Daily Technical Analysis for September 17, 2014

S&P 500 bulls back in action on Tuesday pushing the Dec 14 contract back into the 1990 area into what looks like the decisive push above 2000. Bullish.

Dow 30 The Dec 14 contract of the Dow gained 111 points on Tuesday closing back above the 17000 area and the all-time high for the contract. This is bullish and suggests the upswing is likely to have extend further.

NASDAQ 100 The Nasdaq closed higher on Tuesday and managed to get above the 20 DMA. The recent correction was shot lived and likely over as the Nasdaq prepares for the next up leg.

FTSE100 Volatile day for the FTSE which closed lower and below the 20 DMA and 6800 resistance level. This is bearish for the FTSE and suggests we might be heading lower. Support at the 6750 area.

NIKKEI 225 Bullish day for the Nikkei with a close at 1595 and much closer to the 1600 key resistance level. A close above the 1600 area is very bullish for the Nikkei. Support at the 1580 level.

 

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