Wednesday, August 24, 2016

Modest Selling

Yesterday's buying likely caught shorts out, but later weakness may have encouraged profit taking today. The damage was relatively light and only served as a warning.

For example, the S&P didn't lose breakout support and selling volume was light

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Tuesday, August 23, 2016

Small Caps Breakout

Markets made a break higher, although only the move for Small Caps stuck.  The Russell 2000 managed to finish with a new closing high and is very close to a fresh MACD trigger 'buy'. There was a significant gain in relative performance of Small Caps against Large Caps and Tech.

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Monday, August 22, 2016

Meh Part II

The week started much like past week's finished with a whole lot of nothing. No volume, no action, no outlook.

At least the S&P is holding breakout support. Watch for 'sell' triggers in +DI/-DI and On-Balance-Volume.

The Nasdaq managed to gain a little, waiting for traders to break it out of its range.

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Sunday, August 21, 2016

Semiconductors Continue To Advance

Markets continued with their sideways pattern in a refusal to succumb to easy profit taking.  The exception looks to be the Semiconductor Index which continued to advance.

The only disappointing aspect to the Semiconductor Index is the failure in the MACD to kick higher. It's not a deal breaker as price action and other technicals are very healthy.

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