Wednesday, January 18, 2017

Minor Day for Markets

No need to say much for today as very little happened in the market. The Russell 2000 attempted to undo yesterday's breakdown, but hadn't recovered enough by end of day to negate it.


The only index to make any kind of move today was the Semiconductor Index. It recovered all of yesterday's losses as it looks to return a challenge of 944 highs.  This index has been the star performer for 2016, but can it maintain this form into 2017?


For tomorrow, look for the same breakout opportunities in Large Caps as were on offer yesterday. Shorts may use today's small gain back to former support - turned resistance - in the Russell 2000 as a chance to enter a position. Stops go on a move above 1,377.

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.
 
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