Thursday, before option expiration, the SP added 3 handles to the rebound. Note that price closed right at the February high. One key feature of the day was that a price flip was recorded and the chart now has the first day of a sell setup in place.

The Naz is still being contained under the 8/8 level. The futures settled higher by 7 on the day but need to punch through and settle above 2375 level.

Multi sector daily chart:

The BKX was little changed and still below the DTL.

The XAU is still below all the important moving averages and consolidating for a move.

The OSX is still trapped in its consolidation range.

The BTK touched the 8/8 level and was rejected. This chart looks vulnerable to corrective activity. Note that the MACD is already rolling over.

The SOX was the last laggard on the day which is always cause for concern.

Oil traded mostly inside yesterdays range.

Gold posted an inside day and continues to hold above the static trend line.

Share This