Thursday, September 19, 2019

Markets Tease Follow Through But Are Not There Yet

It's looking ever more likely that current consolidations experienced by markets will resolve to the upside with new breakouts. However, markets are taking their time before doing so.

The S&P closed with a 'gravestone' doji just below 3,025 resistance. Typically, this is a bearish candlestick but given volume was significantly lighter then it's more likely to become part of a consolidation; one, which leads to an eventual breakout.

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Tuesday, September 17, 2019

Semiconductors Find Support

Another good day for Semiconductors after the attack on the 'bull trap' found support at breakout support; this will help the Nasdaq and Nasdaq 100. There was a 'sell' trigger in the CCI, but other technicals are bullish and relative performance is very strong. This is also bullish for the economy.

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Sunday, September 15, 2019

Markets Poised Heading Into Next Week

While Small Caps stole the show last week it may be the time for Large Caps to step up to the plate. Leading the charge is the S&P. The index is sitting just below resistance after ending the week just shy of a break of 3,025. Technicals are net bullish, which should help. Despite two sequential doji, volume was lower on the down day, which is bullish.

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Wednesday, September 11, 2019

Russell 2000 Makes Big Gains; Semiconductors Challenge 'Bull Trap'

A big day for bulls as two key economically sensitive indices make strong moves. Best of the action was given over to the Russell 2000; a 3.5% gain keeps things buoyant but it's also smack bang in the middle of the trading range.

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