Indices Rally to Cut Losses in Half by Harry Boxer

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The stock market indices started the week off negatively, with large gaps to the downside, followed by steady declines in channels by midmorning. They reached their morning lows, rallied back in what looked like rising wedges, but when they failed to get through resistance, rolled over to make lower lows, only slightly so. The Nasdaq 100 got down below 3890 and the S&P 500 below 1830. Midafternoon they appeared very oversold intraday and tired of going down, and staged a very big rally,

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