Sideway action in S&P
- Anup Ved
- Oct 18, 2015
- 1 min read
Below are the charts for all the Markets. S&P and Diamonds look very strong where as Nasdaq and Russel look weak. Dow Jones Industrials are strong whereas Dow Jones Transportation Average looks weak. Now a days it feels like the moves in the US markets are completely dictated by the data and numbers from China. So looking at FXI chart which is a China Index ETF, it feels like the US markets want more but are getting tired. The daily RSI for S&P and FXI are almost near 85 range. Expect some sideways action in the markets so that the RSI can cool off a little and then it can spike for one more time before it fails.
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