Stocks Daily Forecast Aug 31 2016

DOW JONES, Sees Pullback Threats! S&P500, Sets To Consolidate With Upside Bias ! NIKKEI 225, Bullish Tests Key Resistance...

DOW JONES, Sees Pullback Threats!

As long as 18566 resistance holds on a daily closing basis, the Dow Jones index remains in a pullback mode and further down could be seen in Dow Jones index, support comes at the 18242 levels ahead of the 18033 levels.

On the upside, above 18566 will restore the upside momentum and open the 18800 levels ahead of the 19065 levels…

Conclusion: The Dow Jone index sees a pullback risk below the 18566 levels…

Stocks Daily Forecast Aug 31 2016-US30

S&P500, Sets To Consolidate With Upside Bias!

As long as 2171 support holds on a daily closing basis, the S&P 500 index remains on the upside, resistance comes at the 2200 levels, a clear break would open 2235 next, further upside, resistance comes at the 2300 levels.

On the downside, below 2171 sees a pullback risk to the 2147 levels before the next rise, below 2147 will extend the corrective pullback towards the 2127 levels and possibly to the 2073 levels.

Conclusion: The S&P 500 index continues to face upside threats above the 2171 levels.

Stocks Daily Forecast Aug 31 2016-SPX500

NIKKEI 225, Bullish Tests Key Resistance

As long as 16678 support holds on a daily closing basis, the Nikkei 225 index remains on the upside to the 16927 levels, a halt is likely but a break would open 17238, further upside, resistance at the 17575 levels.

On the downside, below 16678 sees a pullback threats to the 16465 levels before the next rise…

Conclusion: The Nikkei 225 index faces upside threats above the 16678 levels…

Stocks Daily Forecast Aug 31 2016-JPN225

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