DAILY MARKET COMMENTARY

JUNE 22, 2021

The DOW-30 # 1 of 4 performance index.  The index climbed above a downtrending 9MA & 18MA as expected, but closed below it.   The high for the day came very close to breaking the previous 1 Down TOP, which would be considered a bullish sign.  The 9MA is still trending down, but could easily change to a sideways consolidating move.

The SP-500 # 2 of 4 performance index.  The index had a similar behavior to the DOW exhibiting some underlying suppport at these levels in the market.

The NASDAQ # 4 of 4 performance index.  The index managed to gap up over the 9MA and run to resistance at the 18MA & 50MA.  Good support at these levels to wait for the 9MA to turn up shortly.

The RUSSELL-2000 # 3 of 4 performance index.  The index broke yesterdays high marginally almost making an Inside Bar, but managed to close the day with a bullish aura.

Forecast for May 20:  Higher highs with reversals are expected for the all indexes.  The market seems to be ready hold the current ground to generate a short term buy weak buy signal.  The DOW and the SP are holding their ground even though all indexes are in -2 Down BOTTOMS.

USA INDEXES MARKET TIMING

MAY 24 2021

DAILY 5H PRICE ACTION INDICATOR

CHANGE
TREND
5H T/B
DATE T/B
CONF T/B
BARS
SETUPS
NEXT T/B
DOW 30
CULBHT+2
UPDW+
1 DTOP
14-5-21
19-5-21
5
1 UON
2 DBOT
SP 500
CULTVB+1
UPDW
1 DTOP
14-5-21
18-5-21
5
1 UON
2 DBOT/+1 UBOT
NASDAQ
CULTVB+1
UP =
-2 DBOT
12-5-21
14-5-21
7
2 DOFF
1 DTOP/+2 UTOP
RUSSELL 2000
CULBHT+2
UP =
-2 DBOT
12-5-21
14-5-21
7
1 DON
1 DTOP/+2 UTOP

PRICE ACTION AND TECHNICAL STRATEGIES INFORMATION

The Daily Market Action Report analyses several proprietary Technical and Price Action Strategies to provide a general market trend  forecast for the Dow-30, SP-500, NASDAQ and RUSSELL-2000.  The forecast includes in-depth analysis of the 5 Hand Price Action Trading Pattern (5H) Strategy that can be reviewed in article TS0001 5H Price Action Trading Pattern Strategy and the Moving Average Turn Around (MATA9) Technical Analysis Strategy in article TS0002 MATA9 Moving Average Turn Around Trading Strategy.

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