Weekly summary
Friday's action handed the week's action to the bears. However, the prevailing trend is bullish and indices still have support to look too. The Russell 2000 tested May-June support and is well placed for a bounce on Monday (stops on break of support):
![](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_ty5zs70Dg58i0VqJ6fbHwhiOCB-YeTUIb5wG3xUbvjq5Y6NyBWKwt9-AupYGfqxlUxZKN9SVE38H9iZ8DPCIuSRbYnoaxVITTVXaNNPtxY3EWQ=s0-d)
Large caps took 1% hits on Friday, but money flow for each is on the rise. The S&P was able to meet its projected target from the February-April correction:
![](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_ti5T2YTxMcvJn6s8FqO9OP0xMZlyEMr8Uqc0bZfks466YXgV1KW8DUKXoLOkerWUCFDvjBnuhIpsG3Klmq8aa4NdmVAg_7knlShhm3daVq3CWB5Q=s0-d)
![](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_vxpG4GBc35gEXKlbvz1qNmn9TitZpJPMJV_jer6YbRDaXRyPuVb4IBT8_mswW73G8r-mnZaRO4IryIsfw-jhud_2eBAvn8opO5wQLSErXH6H5o=s0-d)
While the Nasdaq has been riding the good fortune of semi-conductors and has the strongest money flow. The projected target fell a few points short but it looks as good as met:
![](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_sqSUwbMCasANO3mB7VFZN0nKueQ-hIbLkP70tzCquH7aE38eryQBMph-7kce_SXwb8MecRMzRwX503pKAVeYjuHikONsjZdz63eKFroSVFTikuqg=s0-d)
Next week is another week. Can bulls re-assert the trend or will a larger sideways pattern unfold?
Fallond
Large caps took 1% hits on Friday, but money flow for each is on the rise. The S&P was able to meet its projected target from the February-April correction:
While the Nasdaq has been riding the good fortune of semi-conductors and has the strongest money flow. The projected target fell a few points short but it looks as good as met:
Next week is another week. Can bulls re-assert the trend or will a larger sideways pattern unfold?
Fallond