SPX daily candle analysis 3/10/15

10 במרץ 2015

For my analysis for Tuesday's trading, I am anticipating a move down. The market failed to get back to 2088 yesterday and breathed more life into the sellers to take this lower. I am looking to see this test out the low 2050's. The MACD is in favor of the bears. The stochastic however is approaching oversold. The price pattern isn't too bad as it stands now. The channel is still in play and this may very well be just another day in the neighborhood. Until the channel is broken, the market will continue its move up.