Daily chart for the S&P
Daily chart for NASDAQ
The Dow and S&P will be meeting some resistance at the 500 day moving average soon. (purple line) Only the NASDAQ seems to be good for a short rally after having bounced off the 20 and 50 day moving averages. (blue and red lines)
I think we should have 1-2 more days of bullishness before a dip. Whether this rally can continue will depend on the indexes staying above their respective 50 day moving averages.
Note: I still stand by my prediction of the Dow closing below 9,035 by end of the year. That’s more than 1,000 points from where we are now.
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