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18,475.56
-5.92
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2175.48
0.04
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2.21
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1240.425293
3.18
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14642.37
16.13
(+0.11%)
TSX VENTURE
792.91
3.39
(+0.43%)
GOLD
126.075
-0.27
(-0.210%)
SILVER
17.615
-0.01
(-0.028%)
VIX
13.52
0.07
(+0.52%)

Stock Market Commentary

Market Commentary for January 17th - January 21st, 2016

Market Commentary for January 17th - January 21st, 2016
Published on Jan. 16, 2016, 10:27 p.m. by Stockalyzer
Markets are oversold, but not as much as back in October 2008 or August 2011. So the question is: will it bounce from here to form a lower high somewhere around 1,900 level or will it continue lower? Levels to watch on cash SP500 are 1,820 and 1,737 if it breaks lower. If it goes higher - resistance is at 1,993 (see the upper chart). But first it has to break out of the descending channel and form a higher high on the hourly chart. Watch closely 1,934 level for a breakout but this only if it breaks the mid channel where it's sitting after Friday's close.

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