Wednesday, June 10, 2015

Support Kicks In, Russell 2000 Breaks Again.

A good day for markets saw buyers turn up in decent numbers, although given the relative gain it would have been good to have seen volume a little stronger. The Russell 2000 had the best of the action, breaking out of its readjusted channel as it continues to outperform both S&P and Nasdaq indices.


The S&P is ready to mount a challenge on 2,120 and potentially follow through to 2,130. Today's gain left a 'bear trap'. Tomorrow may be a day of consolidation.


The Nasdaq offered a more traditional rally off wedge support.


While the Nasdaq 100 left a small 'bear trap'


Tomorrow is another chance for bulls to flex their muscles, but more likely it will be a day for bulls to digest today's gain.

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. 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.

JOIN ZIGNALS TODAY - IT'S FREE!
 
f9229fcfd1b1390be00cfccc86c90349c93a4179bf4227457c