Monday, November 20, 2017

Russell 2000 Clears Resistance

The Russell 2000 followed through higher with a break of resistance and a bullish cross of mid-line stochastics. The 'bear trap' follow through is for new all-time highs. Watch for a MACD trigger 'buy' to support the 'bull flag' break.


The Nasdaq finished with a narrow doji which is also a swing trade opportunity. Trade a break of today's high/low with a stop on the flip side.


The S&P is looking at a 'bear trap' and a chance to push itself out of its former channel for a second time.  Volume was a little light and technicals are weak and weakening but price action is the dominant and lead bullish factor.


For tomorrow, the S&P is perhaps the index to watch. The Russell 2000 has already made its move and now it's the turn of the S&P to follow.  Any indecision in pre-market opens up the swing trade play in the Nasdaq as coiling action plays well for both sides.

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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