The SP had a very strong upside option unraveling bias gaining 17 on the day. The 1180 gap has been filled and traders should target the midpoint of the channel next.
Naz was higher by 31 handles and expanded and almost tested 200dma. The next channel is the 200dma.
Multi sector daily chart:
The SOX was by far the strongest sector on the day. The upper trend channel should be resistance.
The BKX is still trapped and only performed in-line with the market.
The OSX was higher on the day but is still contained within the pattern.
The BTK is still staging in the pennant pattern, nothing new technically until the pattern is resolved.
The XAU was last laggard and a source of funds.
Gold was slightly lower on the day.
Oil was weak on the day despite a weaker dollar and higher equity prices.
