
Semiconductors are on a second challenge of October highs and are looking more positive for a push to the 200-day MA. Note the new reaction high in the MACD; an uptrend is in play.

The relative strength of small caps conflicted against the tagging (but no break) of declining resistance in the index. However, the shift towards small cap leadership reflects a stronger long term bullish environment.

Sideline money will be getting antzy for a slice of the action.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.