Daily Market Commentary: Small Caps Squeeze

More of the same. Small gains on small volume for the S&P and Nasdaq. Both indices are trading well inside their channels so there is little to add.


via StockCharts.com

Action in Small Caps was of some interest as it continued to ride resistance higher. While shorts were able to take advantage on Tuesday, there was no such luck today as Tuesday's shorts were squeezed by the buying.


via StockCharts.com

Semiconductors offered some interest with a larger than normal gain for the day. While not yet challenging resistance it did reverse 'sell' triggers in the MACD and CCI.


via StockCharts.com

Bulls maintain control and it will take an extended down phase to reverse this trend.

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