Sunday, September 18, 2016

Intermittent Updates until October 1st

Back in NY for a couple of weeks, so updates will be fewer until I return.
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Distribution Volume Holds Near Thursday's Highs

Friday saw some big volume, although there was a relatively tight price action to close near the highs of Thursday.

Best of the action looked to belong to the Nasdaq as it knocks on the door of 5,287. A gap higher on Monday opens up for a push to new all-time highs. Watch if it coincides with a MACD trigger 'buy', this will strengthen the validity for the move higher and encourage technical buying.


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Thursday, September 15, 2016

Tech Indices Get Their Boost

Bulls got their reward with the Nasdaq popping higher following a series of inside days. The coiling action brought about by recent action delivered over a 1% gain. Volume climbed to register an accumulation day. In addition, the post-jobs report breakdown gap was closed, turning the decline into a brief consolidation. A challenge on 5,288 is next.


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Wednesday, September 14, 2016

Tech Rallies Stall, Large Caps at Low

The day started with bulls enjoying a positive start, but much of these gains were clawed back by the close. The Nasdaq had the best of the action, doing enough to finish above yesterday's close - but not enough to finish at the day's highs. Instead, Tech averages left an 'inverse hammer' in what is looking like committed bearish action.



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