Posts

Nasdaq 100 Breakout with Dow Jones at Resistance

Image
Since my last update markets continued to edge higher. As of Wednesday's close the Nasdaq 100 was the latest index to break to new all-time highs. Relative performance for the Nasdaq 100 edged a little ahead of the Russell 2000.

Fresh Breakouts for Technology Indices

Image
Thursday's selling, despite the heavier volume, couldn't undo the underlying demand kick-started by Wednesday's Russell 2000 breakout. The cleanest breakout was in the Semiconductor Index. It finished inside the zone defined by the March 'bull trap'. A push to next resistance at 1,465 looks a reasonable target from here.

Sellers Challenge Breakouts But Markets Hold On

Image
Trump's tariffs sent markets on a bit of a spin but total selling, while ranked as distribution, didn't go above 1%. More importantly. the bullish setups from yesterday remain valid. Loses in the S&P took the index back to challenging the 'bear trap'. An open around 2,700 could offer a discounted long opportunity.

Small Caps Follow Through; 'Bear Trap' in S&P

Image
Yesterday had opened up bearish opportunities in Large Cap Indices but it was the Russell 2000 which ultimately delivered in favour of bulls. The Russell 2000 followed yesterday's successful test of support with a 1.5% gain today. With no overhead resistance and net bullish technicals there isn't any clear point of weakness.

Archive

Show more