The Nasdaq has a sideways consolidation playing out with alternative buy/sell days which have resulted in little net change. Today's volume we very light with Christmas fast approaching.
The Russell 2000 is the exception in that it's not coiling, and could be shaping a bull flag. The 20-day MA is playing as a possible jump point from support.
While the Dow is shaping a very tight coil
Santa may still have a few tricks up his sleeve, but the air is looking a little thin for bulls.
You've now read my opinion, next read Douglas' blog.
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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.