Quick Update

Currently in New Jersey on Zignals business so there will be limited updates until next weekend.  Suffice to say, little has changed since indices managed their breakouts. Buying volume has stayed reasonable, even if point gains have been meager. Bulls can take comfort in the swing into more speculative Small Caps from 'safety' issue Large Caps.


Buying volume has been good in the Nasdaq as it too makes a relative strength gain against the S&P.


The Russell 2000 has managed to break and hold above its 200-day MA.


Another bright spot was the break of the 200-day MA in the semiconductor index as it looks to challenge 'bull trap' supply. This is good news for Tech indices.


This rally continues to gain strength and take out supply.  A number of support levels are available with upticking 20-day MAs perhaps the most attractive 'buy-the-dip' area on the next move down.  Good Stuff (if you are a bull!).

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Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com. I offer a range of stock trading strategies for global markets which can be Previewed for Free with delayed trade signals. You can also view the top-10 best trading strategies for the US, UK, Europe and Rest-of-the-World in the Trading Strategy Marketplace Leaderboard. The Leaderboard also supports advanced search capability so you can tailor your strategies to suit your individual requirements.


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