OSB Daily Technical Analysis for September 24, 2014

S&P 500 Further consolidation of the S&P500 on Tuesday dipping below 20DMA and testing the 50DMA. A close below the 50 DMA find support at the 1960 level. Market likely to grind it out at these levels for now.

Dow 30 Steep drop off in the Dow piercing through the 20 DMA more or less undoing last weeks gains. Support at the 16950 area for now. Some bounce back and sideways action likely.

NASDAQ 100 Nasdaq followed suite with the general market and closed lower. Support at 4025 handle. A close below extends to a test of the 4000 level.

FTSE100 Strong sell-off in the FTSE with a close at the 6650 level. Declines might be followed by a bounce but action in the FTSE suggests weakness and lower prices on the horizon and a possible test of the 200 DMA.

NIKKEI 225 Test of the 1600 support level in the Nikkei. Correction and further downside likely however Nikkei remains bullish and biased to the upside for now.

 

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