STOCK INDEXES & MARKETS
The September NASDAQ 100 was higher overnight as it extended the short covering rally off Wednesday's low. Stochastics and the RSI are turning neutral hinting that a low might be in or is near. Closes above the 20-day moving
average crossing at 2592.56 would temper the near-term bearish outlook. Multiple closes below the June-July uptrend line crossing near 2555.97 are needed to confirm that the rally off June's low has ended while opening the door for additional weakness near-term. First resistance is the 20-day moving average crossing at 2592.56. Second resistance is last Thursday's high crossing at 2658.00. First support is the reaction low crossing at 2516.50. Second support is the reaction low crossing at 2503.50. Continue reading "Key Market Commentary for Friday"
For those not familiar with Dan Gramza, he is a well known author, advisor, educator, and trader. Not only is he president of Gramza Capital Management, Inc., and DMG Advisors, LLC, but he is also the author of “Trading In The Eye Of The Storm” and “The Handbook of Japanese Candle Trading Strategies." Gramza has appeared on CNN’s “Moneyline,” Reuters TV and Bloomberg TV. 
