25 February 2016 – Market rally in afternoon session

It started with a quiet day before the market exploded upward in the afternoon session.

Dow Transportation range traded in the morning session. The rally began at 13:00 and it closed with a bullish hammer candle above its 50 SMA. Pivot momentum remains upward. Short term volumetric buying pressure is at 100%.

Dow Industrial range traded in the morning session before rallying at 13:00 in the afternoon. It closed with a bullish Marubozu candle above its 50 SMA. Pivot momentum remains upward. Short term volumetric buying pressure is at 100%. The Dow Industrial is in its monthly Squeeze.

Russell 2000 range traded for the morning session and rallied in early afternoon. It closed with a bullish Marubozu candle above its 21 EMA. Next target is the 50 SMA. Pivot momentum remains upward. Short term volumetric buying pressure is at 100%.

Nasdaq 100 dropped on market open and range traded in the first two hours. It recovered and rallied in early afternoon session and closed with a hammer candle above it 21 EMA. Next target above is the 50 SMA. Pivot momentum remains upward. Short term volumetric buying pressure is at 100%.

S&P 500 range traded in the morning session before rallying at 13:00. It closed with a bullish Marubozu candle above its 50 SMA. Pivot momentum remains upward. The volumetric buying pressure is at 100%. The S&P 500 is in a monthly Squeeze.

Vix has dropped to 19.11.

Oil (/CL) futures made small gain to $32.79 per barrel. Gold (/GC) futures up at 1239.3 an ounce. Silver (SLV) ETF closed at 14.41.

Junk bonds (HYG) is up at 78.70. Bonds ETF (TLT) is up at 131.68. Biotech (IBB) ETFs made small gain and closed at 259.32. Semiconductor ETF (SOXL) made small gain and closed at 20.95.

The USD/JPY traded higher to 112.76 which helped the bulls.

Market sentiment is bullish. Market breadth continues to slope upward. The indices traded higher and is largely above their 21 EMA. They have either closed above their 50 SMA or approaching it. Volumetric buying pressure is strong.

The prognosis is that the market is gaining strength upward. Buying pressure is strong and the uptrend is likely to continue.

To YOUR wealth!