Sunday, April 19, 2015

Bulls Lose Their Wiggle Room

Sellers hit indices hard on Friday, leaving markets vulnerable to breaks of nearby support. The S&P managed to find some traction at trendline support and 50-day MA, but it won't be able to handle any further loss on Monday. To add insult to injury, volume climbed to register as distribution, and there were 'sell' triggers between +DI / -DI and On-Balance-Volume.

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Thursday, April 16, 2015

Breakout in Small Caps Hold Despite Small Sell Off

Sellers had a crack at reversing the breakout in the Russell 2000, but were unable to deliver a reversal. The index traded a very narrow range as technicals remained on the bullish side.

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Wednesday, April 15, 2015

Russell 2000 Breakout

Today there was no surprise to see a breakout in the Russell 2000 after the lead-in it enjoyed. The Russell 2000 also enjoys relative leadership against both the Nasdaq and S&P.  The current advance is bound by a rising channel, but is also at new all-time highs.

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Tuesday, April 14, 2015

Markets Regains Early Losses

Markets suffered heavy selling during early action, but were able to regain a large section of lost ground by the close.

Large Caps had the best of the action, skewing buying towards more defensive issues, not surprising given the early scare. The 20-day and 50-day MAs have converged, and these played as a rally point for longs. Technicals retained their bullish picture.

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