Tuesday, December 06, 2016

Russell 2000 in Take Profit Territory

The Russell 2000 pushes again into the 10% zone of historic high prices (1,388 would be enough for the 5% zone last seen in February 2011). Back in 2011 the index rallied for another couple of months before it lost 30% from its high.  The next few weeks would be a good opportunity to take some money off the table to use on the next swing low.

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Higher Volume Gaps Higher

An interesting start to the week. Markets gapped higher off the open and were able to add some distance to their starting points.

The Russell 2000 chalked up a near 2% gain as it makes a run on 1,347.  This was enough to finish the day at the high.  The MACD is still on a 'sell' trigger, but another day like today should be enough to reverse it.

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Sunday, December 04, 2016

Nasdaq 100 Net Bearish

Friday's action was relatively uneventful with indices finishing near the day's lows, but none accelerating on Thursday's losses.

The one change on the intermediate term time frame was the net bearish turn in technicals for the Nasdaq 100. The index remains range bound from August and has struggled as Semiconductors, Small Caps (and now Large Caps) have shone.

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Friday, December 02, 2016

Semiconductors Hit Hard

Internet troubles have limited me tonight, but the one chart I want to show is the near 5% loss in the Semiconductor Index.  Having escaped relatively unscathed from recent day's selling it was a whirlwind of action for the index today.

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