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US Indices Forecast, February 23, 2017

By:
James Hyerczyk
Published: Feb 23, 2017, 14:33 UTC

March E-mini S&P 500 Index futures are trading higher shortly before the cash market opening. The index is trading inside Tuesday’s 2346.00 to 2365.00

US Indices Forecast

E-mini S&P 500

March E-mini S&P 500 Index futures are trading higher shortly before the cash market opening. The index is trading inside Tuesday’s 2346.00 to 2365.00 trading range for a second day, indicating investor indecision and impending volatility… Read More E-mini S&P 500 Forecast

E-mini NASDAQ-100

March E-mini NASDAQ-100 Index futures are trading slightly higher shortly before the cash market opening. The market is still being driven by momentum so we’ll continue to focus on the chart pattern instead of resistance since it can’t be identified. In other words, the rally will just stop when it runs out of buyers instead of reacting to a particular price level… Read More E-mini NASDAQ-100 Forecast

E-mini Dow Jones

March E-mini Dow Jones Industrial Average futures are trading slightly higher shortly before the cash market opening. Volume and volatility have been very light during the pre-market session. The market is still being driven by momentum and there is no true resistance so we’re going to have to continue to monitor the chart pattern. The most dominant pattern has been the higher-high, higher-close so a higher-high, lower-close will likely indicate the selling is greater-than-the-buying at current price levels… Read More E-mini Dow Jones Forecast

US Dollar Index

The main trend is up according to the daily swing chart, however, yesterday’s high at 101.715 and the subsequent sell-off suggest that momentum may be shifting to the downside and that a secondary lower top main be forming.

A trade through 101.75 will negate the closing price reversal top and signal a resumption of the uptrend… Read More US Dollar Index

About the Author

James is a Florida-based technical analyst, market researcher, educator and trader with 35+ years of experience. He is an expert in the area of patterns, price and time analysis as it applies to futures, Forex, and stocks.

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