Market gave back some of its gain from the previous week as the “sell the rally” crowd dominates the market actions.
Dow Transportation dropped in the first twenty minutes after market open and tried to rally in the morning session. It failed and sold off to close with a small bearish Marubozu candle. Pivot momentum remains downward. MPM is showing nett selling pressure. Fractal support and resistance are at 6403.31 and 7013.8 respectively.
Dow Industrial sold off in the first twenty minutes and rallied in late morning session. It failed to break through its daily range high and sold off to close with a bearish Marubozu candle. Pivot momentum remains downward. MPM is showing nett selling pressure. Fractal support and resistance are at 15450.55 and 16593.52 respectively.
Russell 2000 sold off on market open and had persistent selling throughout the day. It closed with a bearish Marubozu candle within a reverse trend candle pattern. Pivot momentum has reversed downward. MPM is showing nett selling pressure. Fractal support and resistance are at 958.47 and 1160.95.
Nasdaq 100 swung wildly up and down in the morning session and formed a J-hook pattern by late morning. It continued trading upward in late morning before heavy selling came into the market and closed with a bearish Marubozu candle. Pivot momentum has reversed downward. MPM is showing nett selling pressure. Fractal support and resistance are at 3992.91 and 4359.51 respectively.
S&P 500 sold off in the first two hours after market open and then rallied in late morning trading. It turned around in early afternoon trading when heavy selling came into the market. Pivot momentum has reversed upnward. MPM is showing nett selling pressure. Fractal support and resistance are at 1812.28 and 1950.34 respectively.
Vix has moved up to 24.15. Oil futures is back below $30. Gold futures made impressive gains and is now trading above $1100 per ounce.
Market sentiment is still mildly bullish. Market breadth is still showing a slight slope downward. The indices are still oversold. Market continues to be volatile with heavy selling pressure.
To YOUR wealth!

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25 January 2016 – Market bears are dominant
Market gave back some of its gain from the previous week as the “sell the rally” crowd dominates the market actions.
Dow Transportation dropped in the first twenty minutes after market open and tried to rally in the morning session. It failed and sold off to close with a small bearish Marubozu candle. Pivot momentum remains downward. MPM is showing nett selling pressure. Fractal support and resistance are at 6403.31 and 7013.8 respectively.
Dow Industrial sold off in the first twenty minutes and rallied in late morning session. It failed to break through its daily range high and sold off to close with a bearish Marubozu candle. Pivot momentum remains downward. MPM is showing nett selling pressure. Fractal support and resistance are at 15450.55 and 16593.52 respectively.
Russell 2000 sold off on market open and had persistent selling throughout the day. It closed with a bearish Marubozu candle within a reverse trend candle pattern. Pivot momentum has reversed downward. MPM is showing nett selling pressure. Fractal support and resistance are at 958.47 and 1160.95.
Nasdaq 100 swung wildly up and down in the morning session and formed a J-hook pattern by late morning. It continued trading upward in late morning before heavy selling came into the market and closed with a bearish Marubozu candle. Pivot momentum has reversed downward. MPM is showing nett selling pressure. Fractal support and resistance are at 3992.91 and 4359.51 respectively.
S&P 500 sold off in the first two hours after market open and then rallied in late morning trading. It turned around in early afternoon trading when heavy selling came into the market. Pivot momentum has reversed upnward. MPM is showing nett selling pressure. Fractal support and resistance are at 1812.28 and 1950.34 respectively.
Vix has moved up to 24.15. Oil futures is back below $30. Gold futures made impressive gains and is now trading above $1100 per ounce.
Market sentiment is still mildly bullish. Market breadth is still showing a slight slope downward. The indices are still oversold. Market continues to be volatile with heavy selling pressure.
To YOUR wealth!

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