US Focus
Symbol: LECO
US Focus
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Won Global View
The U.S. market has shifted to an Uptrend Under Pressure. The S&P 500 and Nasdaq gapped down below their respective 21-DMA,
closing at the lows of the session. Support for the S&P 500 is now the 50-DMA (3,979), followed by the 200-DMA (3,942). Support for the
Nasdaq is now the 200-DMA (11,414), followed by the 50-DMA (11,165). Distribution now stands at five and four, respectively, with one
day expiring on the Nasdaq today.
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back in higher volume yesterday, still consolidating
year-to-date gains above 21-DMA (4,077/11,674) support. Should this level break, the next level for the S&P 500 is the 50-DMA (3,975),
while the Nasdaq’s next level is the 200-DMA (11,426). Distribution increased to four and three, respectively, with one day expiring on
each index next week.
