Stock Market Analysis Aug 12 2016
The markets move up yesterday.
DIA has broken out above a box and this is bullish. Perhaps a little late trying to catch up with SPY and QQQ. As you will see, SPY has already broken out of a daily box and this is bullish. I remain bullish on the stock market as long as SPY does not fall below box. QQQ is trying to set up a 60 min box long and a breakout will bring in bulls buying more.
To read past analysis go to Aug 2016 2nd Week Stock Market Analysis
DIA has broken out above a box and this is bullish. Perhaps a little late trying to catch up with SPY and QQQ. As you will see, SPY has already broken out of a daily box and this is bullish. I remain bullish on the stock market as long as SPY does not fall below box. QQQ is trying to set up a 60 min box long and a breakout will bring in bulls buying more.
To read past analysis go to Aug 2016 2nd Week Stock Market Analysis
