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.
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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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 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.
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
. I invest in my pension fund as a buy-and-hold.
