Markets End Flat on Narrow Trade, Higher Volume

Gary Townsend submits:This morning. Equity markets are in a confirmed uptrend. Major indexes largely reversed Tuesday’s losses, closing higher on lower volume. Recent distribution days number four (on September 21st, 30th, October 15th and 19th) two for the DJI and NASDAQ, three for the SPX, and four for the NYSE composite. December SPX futures are up +7.23 points after fair value adjustment.

Gary Townsend submits:This morning. Equity markets are in a confirmed uptrend. All major indexes closed lower Tuesday on higher volume, recording a distribution day. Losses were heavy, but were somewhat greater on the NASDAQ and NYSE composite. Recent distribution days number three (on September 21st, 30th, October 15th and 19th) two for the DJI and NASDAQ, three for the SPX, and four for the NYSE composite.

Gary Townsend submits:This morning. Equity futures are slightly higher and improving. March SPX futures are at 1281.20, up 1.50 points after fair value adjustment. Next SPX resistance is at 1289.02. Next support is at 1279.88. Asian markets were mixed, though the Shanghai composite continues to sell off.

Gary Townsend submits:This morning. After yesterday’s mixed trade (the NASDAQ closed 13.9 points higher) on lower volume, markets remain in correction. Equity futures are lower this morning, despite yesterday’s late but impressive rebound, positive market breadth, and better-than-expected HPQ earnings after the close. Today’s weakness is likely in response to a military skirmish between the Koreas.

Gary Townsend submits:This morning. Consolidating after the prior week’s exceptional gains, trading slowed as the dollar strengthened, and most major equity indexes closed fractionally lower. Only the NASDAQ registered a gain. Markets are in a confirmed uptrend. There is an increasing market focus on eurozone sovereign concerns.

Gary Townsend submits:This morning. After Tuesday’s breather, equity markets posted solid gains Wednesday, Volume declined. The DJI, SPX and NASDAQ closed at fresh 2-year highs. The NYSE composite stands just below last Monday’s 2-year closing high. March SPX futures are higher, up +1.31 points after fair value adjustment at 1273.50. Distribution days number 2 for the SPX, 3 for the NYSE, and 4 for the NASDAQ. Markets remain in a confirmed uptrend.

Gary Townsend submits:This morning. After fair value adjustment, equity futures are slightly lower. Markets have resumed their confirmed uptrend, but begin the day near key resistance points. March SPX futures are at 1302.70, down -1.59 points after fair value adjustment. Next SPX resistance is at 1314.59. Next support is at 1294.87.

Gary Townsend submits:This morning. Equity markets are in a confirmed uptrend, but futures are slightly lower, and the SPX begins the day at 1304.03, just below key resistance points at 1307 and 1315. March SPX futures are at 1297.70, down -2.93 points after fair value adjustment. Futures improved about +1 point after release of economic news at 8:30. Next SPX resistance is at 1306.89. Next support is at 1301.90.