Wednesday, November 13, 2019

Russell 2000 Makes Support Test

Rallies continued for indices with the exception of the Russell 2000, which made a support test of the breakout level. The Russell 2000 support test is helped by the proximity of the 20-day MA, although it's on the verge of a MACD trigger 'sell'.

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Tuesday, November 12, 2019

Tick Tock Rally Continues

Very little to add from what has gone before; rallies continue higher with supporting technicals still positive (no bearish divergences of concern).

The S&P continues a run of small gains which keeps bulls happy without risking a run-away extension which could encourage early profit taking. The index is under-performing against the Russell 2000 - which is healthy in a cyclical rally.

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Sunday, November 10, 2019

Rallies Extend

Friday was more of the case of preserving gains and undoing some of the potential 'topping' candlesticks which had emerged on Thursday.  Volume was down from the previous day, but there is now a decent buffer across markets to protect against future weakness.

The S&P has matching breakouts for price and On-Balance-Volume but the index continues to underperform relatively against Small Caps.

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Wednesday, November 06, 2019

Index Breakouts Hold

No real surprises today but the most important aspect to today's trading was the fact index breakouts held for another day. Small Caps lost a little ground but didn't undercut the breakout level.

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