Another Boring Day For Markets
There was little to suggest today's action would offer anything of interest going forward. Only the Semiconductor Index managed to recover from a relatively deep intraday spike.
The Dow broke clear from rising channel resistance. This hs no overhead resistance and very little natural support should price reverse from here. However, it marks an acceleration in the advance.
The S&P was a little disappointing in that it didn't really drive a breakout on a day when the Dow made its move. Technicals are good.
With the Nasdaq caught between channel support and resistance, there was little of note to report.
Likewise for the Russell 2000, although J.C. Parets makes the case for a 'bull flag'.
For tomorrow, watch how the Russell 2000day's action suggests it's ready to
You've now read my opinion, next read Douglas' blog.
I trade a small account on eToro, and invest using Ameritrade. If you would like to join me on eToro, register through the banner link and search for "fallond".
If you are new to spread betting, here is a guide on position size based on eToro's system.
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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 a blogger who trades for fun on eToro and can be copied for free.
. I invest in my pension fund as a buy-and-hold.
The Dow broke clear from rising channel resistance. This hs no overhead resistance and very little natural support should price reverse from here. However, it marks an acceleration in the advance.
The S&P was a little disappointing in that it didn't really drive a breakout on a day when the Dow made its move. Technicals are good.
With the Nasdaq caught between channel support and resistance, there was little of note to report.
Likewise for the Russell 2000, although J.C. Parets makes the case for a 'bull flag'.
For tomorrow, watch how the Russell 2000day's action suggests it's ready to
You've now read my opinion, next read Douglas' blog.
I trade a small account on eToro, and invest using Ameritrade. If you would like to join me on eToro, register through the banner link and search for "fallond".
If you are new to spread betting, here is a guide on position size based on eToro's system.
---
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 a blogger who trades for fun on eToro and can be copied for free.
. I invest in my pension fund as a buy-and-hold.
