SPX, NDX, INDU, TLT, GLD, USO quarterly and monthly charts and comments.
SPX Q
Cannot argue healthy close above 2015 highs, with prior quarterly close high acting as support. RSI drifting up to 72.8 is more bullish than stopping at 70. Small wick on the recent bar but could have been worse.
SPX M
Very bullish configuration - 2 small red bars show weak selling and clear hold of 2015 high area. RSI and BB (Bollinger band) room to go up.
NDX Q
Above the red line is all you need to know. Very bullish. Also look how 2000 quarterly close high acted as resistance for 3 bars in 2015, then turned into support Q2-3 2016.
NDX M
Pushing outside the BB is sign of strength. Again, above the red line 2000 top all you need to know, with 2015 monthly close high acting as support.
INDU Q
Weaker, below 2015 highs and classic RSI divergence with RSI stopping at 69.27.
INDU M
But this looks more helpful with 2 small red bars and holding 2015 monthly close high as support. RSI and BBs room to go up.
TLT Q
Red bar close back inside BB after being outside suggests down or limited upside to the Q4 BB.
TLT M
Nice comeback from rising 10MA, but below 2015 top.
GLD Q
Drop from falling 20MA, but small red bar at resistance is not that bearish.
GLD M
This looks more threatening with falling 50MA (purple) acting as resistance.
USO Q
Small red bar with low all inside the BB shows stabilization after a massive drop. This is a very bullish development.
USO M
First close above the 10MA since July 2014.
And for kicks a long term pivot chart. This will be the second try above 2HP on very healthy volume.