Today, the market continued its recovery from the recent pullback. The market opened down, shook some of the weak longs then bounced and put in an intraday shooting star type of candle to get the shorts to come in. Once the shorts were in, it snapped and moved toward yesterday's high.
The SP500 closed near breakeven at 2108.63 with a gain of 0.06. The DJI loss -5.41 and closed at 17745.98. The Nasdaq 100 gained 16.99 or 0.37%, and closed at 4598.59, while the Russell 2000 gained 2.47 and closed at 1232.07.
Today’s price action did not result in any changes to the support and resistance levels. Simply refer to “Market Recap For 7/29/2015” post for the charts with the various levels highlighted. Currently, the market appears to be targeting those resistance levels, therefore more near term upside could be in the offing.
