A Repeat of Yesterday's Action

For today, see yesterday. There is really very little to add on that. I'm surprised the S&P is holding on to its breakout given how tight it is to 2093 support.

The Nasdaq is working its way towards the 10%, 200-day MA envelope band. Although it would take a push to the 14.5% envelope band to leave the Nasdaq at the 15% percentile of extreme prices.

The Russell 2000 also holds its breakout

The other index of note is the Semiconductor Index. It too is holding on to 702 breakout support.

Tomorrow is another day. For those who are interested, I'll be doing tomorrow's broadcast on Tradercast. The focus is on S&P, DAX, Dow, FTSE, FX, Precious Metals and Oil with an intraday bent. Show kicks off at 8:30 am ET / 13:30 GMT and runs for 2 hours.

You've now read my opinion, next read Douglas' and Jani's.

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Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com, and Product Development Manager for ActivateClients.com. You can read what others are saying about Zignals on Investimonials.com.


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