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Large Caps Ease Away From Resistance

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Sellers closed the week out but it was Large Caps which experienced the most significant loss on the day. The S&P gapped away from the channel resistance tag reversal. The index was left at its 20-day MA as it appears to be shaping another move to channel support. This was supported by a MACD trigger 'sell', a 'sell' trigger in -DI/+DI and higher volume distribution. 

Semiconductors Continue to Approach Resistance

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There wasn't a whole lot to today's action except for further gains in the Semiconductor Index. Relative performance is positive and technicals are all in the green.

Indices Offer Shorting Opportunities

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The rallies of last week continued with low volume gains. For those looking for new trade opportunities, there are potential near-term shorting trades available - or a chance to take profits for existing long trades. The S&P tagged channel resistance despite net bullish technicals. The gains were small but resistance has been tagged in what could mark a reversal play.

Thursday's Gains Consolidate

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Large Caps continued to press Thursday's advantage with gains to send indices towards recent swing highs. The S&P remains on course to reach channel resistance and post new highs with technicals net bullish and relative performance in the ascendancy against Small Caps.

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