Stock Market Analysis Aug 9 2016
After the big rise on last Friday, the market seems once again to be moving like a turtle. Small movements in the daily charts. Perhaps the market is digesting stuff now. The charts show bullishness in the SPY, DIA and QQQ and I expect it to continue unless I see warning signs in the 60 min charts. 60 min charts are good to analyze what is happening in the daily charts and they often point out early reversals in the daily charts.
Let's take a look at what the markets did yesterday and what we shall expect in the next few days.
Let's take a look at what the markets did yesterday and what we shall expect in the next few days.
Major Indexes
Sectors & Industries
Stocks
Dollar & Commodities
In summary:
- I'm bullish on SPY, DIA , QQQ and looking for long 60 min setups.
- Will be bullish on stocks till 60 min charts tell me so
- I'm bullish on oil at the moment but am aware of the resistance overhead.
- I'm kinda bearish on Gold and Silver now.
