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Rejected

RejectedWelcome to “Daily Charts”This section of the website is largely focused on select technical charts we find of interest as opposed to in depth market analysis. None of these charts constitute a trade recommendation, but you may find them helpful for your own analysis.

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On to charts: Markets ramped higher on “bring asset purchases back” chatter from Fed member Kocherlakota the second dove in as many days to refute any notions of any rate raises soon. Yet prices were rejected leaving strong reversal candles at previous resistance in place. Markets are now firmly entrenched between support and resistance and the next breakout or break down will likely bring resolution for a visit to either the upper or lower Bollinger band. Today’s likely dovish Fed minutes could be the next trigger. It’s all about the Fed, all about the Fed, after all.

SPX D

INDU

COMPQ

VIX

NYA

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1 Response »

  1. Ben Bernanke blog states that financial instability is not an issue. They don’t see a bubble or high valuations. Technicals don’t matter

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