Thursday, October 19, 2017

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.

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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.
 
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