OSB Daily Technical Analysis for September 18, 2014

S&P 500 De 14 S&P contract flirted with the 2000 level and close lower for the day. Bullish momentum is high and market looks like it is preparing for the next up leg.

Dow 30 Bullish breakout for the Dow Dec 14 contract closing at an all-time high for the contract. This is very bullish and suggest we are in buyers only market. Down swings are likely short term breathers are the Dow gathers momentum to move higher.

NASDAQ 100 Close above the 50 DMA for the Nasdaq as the recent correction appears to be over. Market looking to higher prints. Bullish.

FTSE100 Negative day for the FTSE 100 with a low at 6720. The FTSE looks likely to drift lower and the Scottish referendum with most probably be the decisive factor. Support at 6750 and lower at 6725.

NIKKEI 225 The Dec 14 Nikkei contract managed to etch above the 1600 level. This is bullish and suggests higher prints are certainly likely over the next few trading sessions. Any pullbacks likely to be short lived.

 

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