Sunday, June 25, 2017

Bulls Put On The Pressure

Markets finished Friday with a little flourish on higher volume accumulation. How much pressure varied between indices.

The Russell 2000 rallied off rising support as a 3-week bull flag takes shape. Watch for the confirmation breakout which will coincide with a challenge on the early June 'bull trap'.  I'm liking action in this index.

Read more!

Thursday, June 22, 2017

Russell 2000 at Rising Support

There wasn't much to say about today, but the one index which caught my attention was the Russell 2000. The index caught a bounce in demand at the rising trendline and also did enough to recover the 20-day MA. Traders looking for pullback opportunity could take a look at the Russell 2000. Stops on a loss of 1,397.

Read more!

Tuesday, June 20, 2017

S&P Bull Trap on Higher Volume Distribution

Yesterday's market gains were whipped away on higher volume distribution. This opened shorting opportunities in indices other than the Semiconductor Index.

The S&P closed with a 'bull trap' on higher volume distribution.  Shorts could look to a position here with a stop on a move above 2,453. Technicals are still bullish but On-Balance-Volume and the MACD are vulnerable.

Read more!

Monday, June 19, 2017

S&P Breakout + Tech Support Bounce

If volume wasn't just a little disappointing this would have been considered a super solid day for bulls. Having said that, shorts will be feeling the squeeze and anyone short the Dow Jones would have been feeling particularly aggrieved.

Momentum bull-runner the Dow Jones gapped at the open and finished at the high of the day. Relative performance actually dropped a little but the Dow is clawing back 6-months of under-performance so it can be forgiven for this.

Read more!