Index Analysis

S&P 500


15-Minute Time Frame (past 10 days)


The S&P 500 is still within the range of the recent channel as seen in the 10-day chart. If it can break past the resistance at 780 and consolidate, a more 'trustable' mini-rally may ensue.

DJIA


15-Minute Time Frame (past 10 days)


With the Dow cleanly breaking through both the July 2002 and November 2008 lows, the index may continue to find weakness and drag the S&P 500 and NASDAQ through their respective levels of support.

NASDAQ


15-Minute Time Frame (past 10 days)


The Q's have been outperforming the S&P and Dow by large margins. All three indexes exhibit the same downward channel. If the NASDAQ or all three indexes break the top line of the channel, then that may be another sign of a tradeable rally.