It was a rather slow day with the market undecided on its direction after 3 weeks of ascent.
Dow Transportation range traded from 7604.52 to 7648.26 which is a 43 point range and closed with another small candle. Pivot momentum remains upward. Short term volumetric buying pressure is at 100%.
Dow Industrial grinded its way upward from 17120.35 to 17251.7 and closed with a small hammer candle above its 200 SMA. Pivot momentum remains upward. Short term volumetric buying pressure is at 100%. The Dow Industrial is in its monthly Squeeze.
Russell 2000 traded downward from market open and closed with a bearish Marubozu candle. Pivot momentum has reversed downward. Short term volumetric buying pressure is at 78.4%.
Nasdaq 100 gyrated its way upward from a low of 4339.86 to 4371.29 in a 31 point range. It closed with a small bullish candle in a sideway moentum action over the last three days. Pivot momentum remains upward. Short term volumetric buying pressure is at 99.9%.
S&P 500 grinded its way upward from a low of 2005.23 to close at 2015.91. It closed below its 200 SMA with a small dragonfly doji candle. Pivot momentum remains upward. The volumetric buying pressure is at 99.7%. The S&P 500 is in a monthly Squeeze.
Vix closed at 16.84. Skew is at 132.45 which is within its normal range.
Oil (/CL) futures is down at $36.89 per barrel. Gold (/GC) futures is down at 1233.4 an ounce. Silver (SLV) ETF is at 14.45. It is a weak season for gold and further downside can be expected.
Junk bonds ETF (HYG) is 81.15. Bonds ETF (TLT) closed at 127.88 on its 50 SMA. Biotech (IBB) ETFs is at 251.47. Semiconductor ETF (SOXL) is at 24.55.
The USD/JPY closed at 113.38 and has formed a Squeeze. We could see some explosive moves in the days ahead in this currency pair which will have impact on the US market.
Market sentiment remains on the bullish side. Market breadth continues to slope upward but flattening.
The prognosis is that the market is undecided ahead of the FOMC meeting and looking for direction. Volumetric buying pressure remains strong in the indices. The bulls have strength of numbers on their side.
To YOUR wealth!

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15 March 2016 – Waiting for the FOMC
It was a rather slow day with the market undecided on its direction after 3 weeks of ascent.
Dow Transportation range traded from 7604.52 to 7648.26 which is a 43 point range and closed with another small candle. Pivot momentum remains upward. Short term volumetric buying pressure is at 100%.
Dow Industrial grinded its way upward from 17120.35 to 17251.7 and closed with a small hammer candle above its 200 SMA. Pivot momentum remains upward. Short term volumetric buying pressure is at 100%. The Dow Industrial is in its monthly Squeeze.
Russell 2000 traded downward from market open and closed with a bearish Marubozu candle. Pivot momentum has reversed downward. Short term volumetric buying pressure is at 78.4%.
Nasdaq 100 gyrated its way upward from a low of 4339.86 to 4371.29 in a 31 point range. It closed with a small bullish candle in a sideway moentum action over the last three days. Pivot momentum remains upward. Short term volumetric buying pressure is at 99.9%.
S&P 500 grinded its way upward from a low of 2005.23 to close at 2015.91. It closed below its 200 SMA with a small dragonfly doji candle. Pivot momentum remains upward. The volumetric buying pressure is at 99.7%. The S&P 500 is in a monthly Squeeze.
Vix closed at 16.84. Skew is at 132.45 which is within its normal range.
Oil (/CL) futures is down at $36.89 per barrel. Gold (/GC) futures is down at 1233.4 an ounce. Silver (SLV) ETF is at 14.45. It is a weak season for gold and further downside can be expected.
Junk bonds ETF (HYG) is 81.15. Bonds ETF (TLT) closed at 127.88 on its 50 SMA. Biotech (IBB) ETFs is at 251.47. Semiconductor ETF (SOXL) is at 24.55.
The USD/JPY closed at 113.38 and has formed a Squeeze. We could see some explosive moves in the days ahead in this currency pair which will have impact on the US market.
Market sentiment remains on the bullish side. Market breadth continues to slope upward but flattening.
The prognosis is that the market is undecided ahead of the FOMC meeting and looking for direction. Volumetric buying pressure remains strong in the indices. The bulls have strength of numbers on their side.
To YOUR wealth!

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