Pump and Dump of the day: VYON

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Bull Flags for Nasdaq and S&P

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The last few days have seen the S&P and Nasdaq consolidate their bounce with 'bull flags'. Both markets are coiling in preperation for a follow through move - presumably higher.  In the case of the Nasdaq,  we have 'buy' triggers in the MACD, On-Balance-Volume and +DI/-DI - although stochastics are struggling to cross the mid-line. The index is outperforing the S&P which should favor a move higher and a challenge of the 50-day MA. 
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"Inverse Hammer" on Russell 2000 Breakout

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It was a mixed day for indices with the first indication of a top for the current advance with reversal candlesticks coming into play off opening gaps in markets. The Russell 2000 is looking the most vulnerable as it finally manages to break past the June swing high. With the 'inverse hammer' we have the risk of a possible gap down Tuesday, which would result in an 'evening star' and a likely "bull trap" - feeding into the likelihood of a larger sell-off. 
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'Bear Traps' for the Nasdaq and S&P as Russell 2000 holds above support

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Buying in the Nasdaq and S&P delivered important 'bear traps' which in part, probably fueled today's gap highers in these indices. There is still alot of work for bulls to do, not least drive breaks of downward channels - not to mention, clear the first of the key moving averages in the 20-day. But it does give indices some respite from the grinding selling of the last couple of months.  The buying in the Nasdaq didn't register as accumulation, but there is a slow improvement in the technical picture with an upcoming 'buy' in the MACD.
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