Breakouts Hold

The Nasdaq put further distance on its breakout as technical strength improved. Volume fell, perhaps the only sour note on Friday. However, continued strength in Tech indices will help maintain breakouts in other indices .


The S&P did enough to punch a new high, although it remains vulnerable to a sell off.


The Russell 2000 also closed with a breakout on Friday; good news for a continuation of the broader rally.


Helping the Nasdaq and Nasdaq 100 breakouts is the new breakout in the Semiconductor Index.


For Tuesday, bulls have ticked all the boxes, so now it's a question of maintaining that momentum. Selling is the easy option, how much selling will determine if bears can regain control.

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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