Daily chart for S&P
Daily chart for NASDAQ
Nothing better than a doji to add to the confusion. And this doji happened after the day the Dow and S&P had broken above their 200 day moving average on its 3rd attempt. Since dojis generally mean indecision, I supposed the market sentiment is undecided whether it should break above the 200 day moving average or not.
Today, we should see the Dow and S&P fight to keep above the 200 day moving average. On futures charts, the Dow and S&P have not broken above the 200 day MA yet. We would need to see all 3 indexes plus their futures prices break above the 200 day MA for this to work. Otherwise this may just be a fake breakout, which may come with very bearish consequences in the next few days.
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