9 Mar 2015
US indices break key technical support – TechTrader
FXStreet (Barcelona) - Harry Boxer of The Technical Trader, summarizes the intraday performance of US Indices, with the Dow, S&P 500 and Nasdaq 100 ending the past week negative.
Key Quotes
“The stock market indices ended on a very negative note breaking key topping-type patterns, closing near the session lows going away. It was a very negative day with poor technicals. This may be the trigger that sets them off for more downside action here.”
“The day started out with a dip. When the Nasdaq 100 rallied but the S&P 500 formed a bear wedge, they then collapsed, sharply so, until midday when they tried to bounce around, but began falling in orderly down channels the rest of the day. Only a last 15-minute snapback slightly took them off the lows.”
“Net on the day, the Dow was down 274.94 at 17,856.78. The S&P 500 was down 29.78 at 2071.26. The Nasdaq 100 was down 52.83 at 4399.23.”
Key Quotes
“The stock market indices ended on a very negative note breaking key topping-type patterns, closing near the session lows going away. It was a very negative day with poor technicals. This may be the trigger that sets them off for more downside action here.”
“The day started out with a dip. When the Nasdaq 100 rallied but the S&P 500 formed a bear wedge, they then collapsed, sharply so, until midday when they tried to bounce around, but began falling in orderly down channels the rest of the day. Only a last 15-minute snapback slightly took them off the lows.”
“Net on the day, the Dow was down 274.94 at 17,856.78. The S&P 500 was down 29.78 at 2071.26. The Nasdaq 100 was down 52.83 at 4399.23.”