All equity indicices gapped down on Sunday night into their support areas at the lower end of their daily range and then rallied from there. Given that they are all oversold and just hit the lower end of their ranges, my short term bias is UP. Some of them are already really close to the upper end of their range already (NK – Japan).
Commentary
- GC: Gap, rally, fail – leaving a topping tail.
- SI: Better – gapped out of its bull flag and held.
- ZB: Range
- ZC: Negative consolidation – feels like more lows are yet to come.
- ZW: Bear flag?
- LC: Bear flag?
- LH: Bear flag?
- Equities: Long bias – just hit lower end of range, should move to the upper end now.
- BP: Extended bear flag breaking. Short bias.
- PA: Forming a “bull flag” inside a range?
- NOK: Bear flag
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