Bullish Pressure Continues

The Nasdaq posted a minor gain on low volume and performed better than the S&P. It didn't really change anything, but it didn't hurt and the MACD is on the verge of a 'strong buy' signal.

The Russell 2000 added some value and pulled away from 1,240 support, so losses from here will still offer bulls something to work with. Also working in bulls favour are bullish technicals.

Losses in the S&P dropped it just below 2093 as it attempts to challenge the 2119 high.

The Semiconductor Index was not to be excluded, it added a 0.24% as it worked itself off support.

For tomorrow, look to the Semiconductor Index and Russell 2000 to add today's gains.

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

Share on StockTwits


Accepting KIVA gift certificates to help support the work on this blog. All certificates gifted are converted into loans for those who need the help more.

Follow Me on Twitter

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.


Popular posts from this blog

Nasdaq primed for breakout

S&P "Bull Trap"?

"Black Candlesticks" are a concern for the S&P and Nasdaq


Show more