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Indices Finish Off the Lows, But Substantially Off the Highs

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The stock market indices by morning followed through yesterday's late rally and extended the move, taking the Nasdaq 100 from under 4000 to nearly 4200 today. That's a five-percent rally. The S&P 500 from yesterday's low of 1812 reached a high of 1890. That was 18 points and about five-percent as well. So you can see that the indices may have been in need of a pull back. By midday they reached their declining topslines and moving averages as well as lateral resistance on the hourly charts,

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