Things Are Starting To Change. Market Reactions

It has been a while since we have done somewhat of a mass update. Apparently, we are in a strong trend upwards, so lets look at what has developed…

Dow Industrial Average

Definitely a great run since March. In fact we are almost even for the year. I do not think anybody would have imagined that back in February. I would even go as far as to consider that the overall trend is flipping to the upside.

Looking at a year time frame it looks like the Dow has clearly broken out of the prior triangle formation and built a decent foundation within the cradle. Our next stop is to work on surpassing the 200 simple moving average, which for many is a sign of a distinct change in trend.

Once we clearly move pass the moving average, look for the next resistance around 9500.

Nasdaq

Out of the 3 major markets, the Nasdaq has clearly been the winner for much of the year.  Since we are further along in the trend reversal, we will use the fibonacci tool to measure the retracement.

If we can get passed the 50% level we are at right now, using the previous trend, I think we could be poised for a very bullish run in this market.

S&P 500

It basically feels like I am looking at the same chart 3 times in a row. Nothing new to spot here except for the fact that we are quickly approaching the 50% retracement level. Just take a quick look at this video to get an idea of where we are heading for the S&P 500.

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