Stock Indexes & Markets Report: August 22

BinaryOptionsNow | Published on August 22, 2011 at 11:29 pm

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The September NASDAQ 100 closed higher on Monday as it consolidated some of last week’s decline. The mid-range close sets the stage for a steady opening when Tuesday’s night session begins trading. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If September renews the decline off July’s high, the 75% retracement level of the2010-2011-rally crossing at 1892.62 is the next downside target. If September renews the rebound off this month’s low, the 20-day moving average crossing at 2210.40 is the next upside target. First resistance is the 20-day moving average crossing at 2210.40. Second resistance is the reaction high crossing at 2319.50. First support is this month’s low crossing at 1972.25. Second support is the 75% retracement level of the 2010-2011-rally crossing at 1892.62.

 

The September S&P 500 index closed slightly lower on Monday as it extends last week’s decline. The low-range close sets the stage for a steady to lower opening when Tuesday’s night session begins trading. Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near-term. If September renews the aforementioned decline, the 87% retracement level of the 2010-2011-rally crossing at 1047.03 is the next downside target. If September renews the rally off this month’s low, the 20-day moving average crossing at 1205.81 is the next upside target. First resistance is the 20-day moving average crossing at 1205.81. Second resistance is the reaction high crossing at 1264.00. First support is this month’s low crossing at 1076.10. Second support is the 87% retracement level of the 2010-2011-rally crossing at 1047.03.

 

The Dow posted an inside day with a higher close on Monday as it consolidated some of last week’s decline. Today’s low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near-term. If the Dow extends last week’s decline, this month’s low crossing at 10,604 is the next downside target. If this support level is exceeded thereby renewing the decline off July’s high, the 38% retracement level of the 2009-2011-rally crossing at 10,440 is the next downside target. If the Dow renews the rally off this month’s low, the 20-day moving average crossing at 11,505 is the next upside target. First resistance is the 20-day moving average crossing at 11,505. Second resistance is broken support marked by March’s low crossing at 11,555. First support is this month’s low crossing at 10,604. Second support is the 38% retracement level of the 2009-2011-rally crossing at 10,440.

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Source: INO

 

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