PRICE AND TURNOVER
Close 8,378.95
Change -312.3 -3.59%
Volume 335,678,907
MARKET BREADTH NYSE
Net Advancing Issues -2026
Net New Highs -1006
Net Up Volume -313,713,280
MULTIPLE TIME FRAME ANALYSIS
*MONTHLY CHART | PRIMARY DOWNTREND | Prior support 7177 | Prior resistance 14078
*WEEKLY CHART | INTERMEDIATE DOWNTREND | Prior support 7773 | Prior resistance 11867 | PENNANT PATTERN
*DAILY CHART | SHORT TERM CONSOLIDATION | Prior support 7773 | Prior resistance 9794 | SYMMETRICAL TRIANGLE BREAKS TO THE DOWNSIDE TO RESUME DECLINE
CHART WATCH
A pennant is developing in the weekly chart which is reasonably expected to break in the direction of the prevailing trend. The minor consolidation appearing in the daily chart breaks to the downside insinuating a near term TP of 7000 thereabouts. These breaks bring us closer to a test of the 7177 support level of 2002. It is reasonable to expect considerable buying support to appear at this level so we must watch closely whether buyers or sellers prevail in the aftermath.
Close 8,378.95
Change -312.3 -3.59%
Volume 335,678,907
MARKET BREADTH NYSE
Net Advancing Issues -2026
Net New Highs -1006
Net Up Volume -313,713,280
MULTIPLE TIME FRAME ANALYSIS
*MONTHLY CHART | PRIMARY DOWNTREND | Prior support 7177 | Prior resistance 14078
*WEEKLY CHART | INTERMEDIATE DOWNTREND | Prior support 7773 | Prior resistance 11867 | PENNANT PATTERN
*DAILY CHART | SHORT TERM CONSOLIDATION | Prior support 7773 | Prior resistance 9794 | SYMMETRICAL TRIANGLE BREAKS TO THE DOWNSIDE TO RESUME DECLINE
CHART WATCH
A pennant is developing in the weekly chart which is reasonably expected to break in the direction of the prevailing trend. The minor consolidation appearing in the daily chart breaks to the downside insinuating a near term TP of 7000 thereabouts. These breaks bring us closer to a test of the 7177 support level of 2002. It is reasonable to expect considerable buying support to appear at this level so we must watch closely whether buyers or sellers prevail in the aftermath.
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