Analyzing Major U.S. Indices

Major U.S. indices are trending higher. Dow Jones Industrial Average and NASDAQ Composite are leading the overall market. Small caps mostly lagging. Relative Strength From the beginning of 2017, Dow Jones Industrial Average was performing similar to S&P 500. Since the middle of July 2017, DJIA is out-performing S&P 500 (Top Panel Chart 1). Since November 2016,…

Morning Notes – Friday August 4, 2017

Directional Bias For The Day: S&P Futures are moving up since bottoming just before Asian session open Breaking above a triple top or horizontal channel; the target will be near 2481.00 Awaiting Non-Farm Payroll Report at 8:30 AM, which will have significant impact on early morning session trade Odds are for an up day – watch for break below 2472.75 for a change…