Market Focus: US Indexes
In today’s video report, we look again at US indexes after last night’s declines on the US30 and SPX500. Last Friday produced rallies that looked like setting up new short-term rallies on the SPX500 and US30. The picture changed slightly last night after sellers once again cut into these rallies, setting up (for now) new LH patterns. We discuss the current price action that we’re watching and what we would like to see confirmation wise to suggest sellers are in control.
The NDX100 remains in its own sector right now, buyers closed at new weekly highs last night as buyer momentum, for now, continues to run relatively strong.
US session news to keep an eye on, 10:30 pm AEST (8:30 am EST) US CPI and Core CPI data. Both are expected to come in lower.
Market Analysis Video