Zak Mir on rallying US indices; Dow, SP500 & NASDAQ100

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By Zak Mir.

U.S. Indices After The Shutdown Ends

Dow: 

  • Almost perfect 200 day moving average rebound
  • Likely bull flag above 50 day moving average at 15,165
  • Target towards year highs – favoured up to 2013 price channel top of 15,800 as soon as the end of October.

S&P: 

  • Significantly more positive chart structure than Dow from a more broad based benchmark.
  • No delay to upside scenario at least while above 10 day moving average at 1,693
  • “Minimum” target on a technical basis of 1,750.

Nasdaq 100: 

  • Stunning early October unfilled gap above the 50 day moving average now at 3,168
  • Progressively stronger bull run momentum.
  • Target towards June price channel top at 3,400 plus over next few weeks.

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