September S&P closed up 11.1 at 1025. This was 5.8 up from the low and 0.7 off the high. September S&P E-Mini finished up 11 at 1025, 2 off the high and 6.5 up from the low.
September Dow finished up 81 at 9498, 7 off the high and 48 up from the low.
Technical Outlook
S&P 500 (SEP) 09/09/2009: Momentum studies are trending higher from mid-range, which should support a move higher if resistance levels are penetrated. The market's close above the 9-day moving average suggests the short-term trend remains positive. The close over the pivot swing is a somewhat positive setup. The next upside objective is 1031.92. The next area of resistance is around 1029.05 and 1031.92, while 1st support hits today at 1020.95 and below there at 1015.73.
S&P E-MINI (SEP) 09/09/2009: Positive momentum studies in the neutral zone will tend to reinforce higher price action. The market's short-term trend is positive on the close above the 9-day moving average. Market positioning is positive with the close over the 1st swing resistance. The next upside objective is 1032.37. The next area of resistance is around 1029.25 and 1032.37, while 1st support hits today at 1020.75 and below there at 1015.38.
NASDAQ (SEP) 09/09/2009: Momentum studies are trending higher from mid-range,
which should support a move higher if resistance levels are penetrated. The market's short-term trend is positive on the close above the 9-day moving average. There could be more upside follow through since the market closed above the 2nd swing resistance. The near-term upside objective is at 1665.62. The next area of resistance is around 1661.75 and 1665.62, while 1st support hits today at 1648.25 and below there at 1638.63.
DOW (SEP) 09/09/2009: The daily stochastics have crossed over up which is a bullish
indication. Momentum studies are rising from mid-range, which could accelerate a move higher if resistance levels are penetrated. A positive signal for trend short-term was given on a close over the 9-bar moving average. There could be more upside follow through since the market closed above the 2nd swing resistance. The next upside target is 9569. The next area of resistance is around 9537 and 9569, while 1st support hits today at 9463 and below there at 9420
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