Monday, August 22, 2016

Meh Part II

The week started much like past week's finished with a whole lot of nothing. No volume, no action, no outlook.

At least the S&P is holding breakout support. Watch for 'sell' triggers in +DI/-DI and On-Balance-Volume.

The Nasdaq managed to gain a little, waiting for traders to break it out of its range.


The Russell 2000 also made small inroads into last week's highs. Watch for recent relative underperformance against the Nasdaq to reverse, perhaps marking a new period of Small Caps leadership.


Can markets break their range? Jani was right picking his holiday for August...

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

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Dr. Declan Fallon is the Senior Market Technician for ChartDNA.com, and Product Development Manager for FirstDerivatives.com. I also trade on eToro and can be copied for free.
 
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