Monday, June 22, 2015

Low Volume Gains

After Friday's options expiration it was left to bulls to pick up the pieces of Friday's distribution selling. Large Caps were able to erase Friday's losses. In doing so, the S&P regained its net bullish technical picture.


The Nasdaq banked most of its gain by the open, but it did enough to leave a decent amount of wiggle room to breakout support.


The Russell 2000 was another to kick on from Friday. Again, as with Large Caps and Tech indices, the bulk of gains were banked prior to market open.


Greece will again govern the headlines, but with limited technical resistance there isn't much to stop further gains. Will this move into blowoff territory?

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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