Wednesday, February 18, 2015

Small Caps Take Best of Action

There wasn't a whole lot of action on the day, but the Russell 2000 was able to add nearly a quarter a percentage point and hold on to its breakout. Technicals have stayed net bullish since the break from the original channel (which ultimately led to the current trading range).


The S&P lost all of a point, holding on to 2,093 support. Volume was also light. Not much to add otherwise.


The Nasdaq kept its distance from the trading range, working its way towards the 10% moving average envelope band, last tagged in November and triggered the current consolidation.


The bulls are still in control, even if for the Russell 2000 and S&P the margins are very tight.

You've now read my opinion, next read Douglas' and Jani's.

Share on StockTwits

---
Accepting KIVA gift certificates to help support the work on this blog. All certificates gifted are converted into loans for those who need the help more.

Follow Me on Twitter




Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com, and Product Development Manager for ActivateClients.com. You can read what others are saying about Zignals on Investimonials.com.

JOIN ZIGNALS TODAY - IT'S FREE!
 
f9229fcfd1b1390be00cfccc86c90349c93a4179bf4227457c