Posts

Disappointing Earnings Hurt Late

Image
Microsoft and Google are doing their bit to kill the momentum of this respectable rally. While the short term picture gives bears an angle to work with it's going to take more to suggest this rally is done. The S&P had experienced profit taking with higher volume distribution on a bearish evening star. Technicals haven't turned yet, so it's a pure price reversal at the moment, and it's early days.

Flat Day

Image
Semiconductors were able to make back some of yesterday's heavy losses, but other indices were little changed. Semiconductors have clawed back nearly 1% and are working off a potential support level of 660. There is a break of rising support in the CCI, which along with continued losses in relative strength, suggests bulls are not out of the woods yet.

Semiconductors Take Hit as Large Caps Rally

Image
A Tale of Two Cities as Large Caps keep bullish momentum running with higher volume accumulation, while Techs - influenced by Semiconductors - edge lower. The S&P maintained bullish technicals as it added a few points to yesterday's gain. A push to challenge 2,140 looks well on the cards.

Bulls Advance

Image
Two days of indecision has given way to another day of gains for bulls. Volume was lighter, but there was an important technical gain with reversals of MACD 'sell' triggers. The S&P is on its way to challenge 2,125 with the rally re-established.

Archive

Show more