Wednesday, May 20, 2015

Market Indecision

A day of whipsaw for the markets with the FOMC Minutes not pushing the market in a decisive move one way or the other. The S&P is holding its breakout, and sticking above 2115 support, although it lost further ground against the Russell 2000.


The Nasdaq finished with an indecisive spinning top just above support. Volume climbed in what was marked accumulation. But again, no real advantage one side or the other. However, the index is enjoying a relative advantage against the S&P.


The Russell 2000 is perhaps best positioned for further gains. While today also finished with a doji, it followed yesterday's range day in the upper part of Monday's range.


Tomorrow is another day. While breakouts hold, bulls have the edge.

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

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Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com, and Product Development Manager for ActivateClients.com. I do a weekly broadcast on Friday's at 13:30 GMT for Tradercast, covering indices, FX and gold, silver and oil - all are welcome! You can read what others are saying about Zignals on Investimonials.com.

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