Markets Due for a Retracement

with No Comments

After closing below its upper gamma curve on Monday, the Dow went on to test the 17,900 area as we mentioned to our readers yesterday and rebounded nicely from there. If the momentum continues, we may see it test the 18,125 – 18,135 resistance area today, especially that yesterday was a minor time pressure point, which means that we are in store for at least a retracement.

The S&P rebounded nicely from its lower pressure curves and may very well test its upper alpha curve around the 2,120 area today. The NASDAQ also rebounded from its support levels yesterday and may test its upper gamma curve today around the 4,545 area.

Time-wise, we do not have any time pressure points coming up until early next week! So, stay tuned!

DJIA 20150602

S&P 20150602

NASDAQ 20150602

P.S. For our new readers, please note that the price quotes that we are currently using are those for the futures contracts for each of the three indices.

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