Sunday, August 10, 2014

The Weekly Outlook - $DJIA $SPX $NDX for August 11, 2014

*****Markets are resilient, but where are we really? We've been rising for five years now so are we in a small correction or a major one coming, or are we at the crossroads of a consolidation and breakout to new highs?  I can only follow the charts and hopefully discern what is just noise. Here's what to look for this week:

12 Aug. 2014 Tuesday evening: $DJIA $SPX $NDX   The levels to watch haven't changed, instead they were confirmed in the past two trading sessions.

14 Aug. 2014, Thursday evening: $DJIA, $SPX   Finishing at resistance are we back on easy street? Friday should be testing the 16750-16800 and 1960-1965 respectively. $NDX is running ahead of itself and the markets. Perhaps a little too fast. Friday watch the 3975 - 3983 and the 3960 for stress tests.

Happy Trading, Living and Dancing

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