Friday, March 18, 2016
SPX, NYA, Crude Oil: Mixed Markets
Since last update, the Fed announced that it's going to keep rates steady, and the market has rallied. Today's update will be rather short and sweet, and we're going to start with NYA, which has broken out over its intermediate downtrend line:
Oil has broken out from its bullish falling wedge pattern:
While SPX is still challenging layered resistance:
In conclusion, NYA and crude oil both have breakouts. NYA's breakout is unproven yet, while SPX is still challenging resistance. RUT and BKX have not yet broken above intermediate resistance, so the picture is mixed at this moment. Trade safe.
Posted by PretzelLogic at 3:31 AM