Support Kicks In, Russell 2000 Breaks Again.

A good day for markets saw buyers turn up in decent numbers, although given the relative gain it would have been good to have seen volume a little stronger. The Russell 2000 had the best of the action, breaking out of its readjusted channel as it continues to outperform both S&P and Nasdaq indices.

The S&P is ready to mount a challenge on 2,120 and potentially follow through to 2,130. Today's gain left a 'bear trap'. Tomorrow may be a day of consolidation.

The Nasdaq offered a more traditional rally off wedge support.

While the Nasdaq 100 left a small 'bear trap'

Tomorrow is another chance for bulls to flex their muscles, but more likely it will be a day for bulls to digest today's gain.

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, and Product Development Manager for I do a weekly broadcast on Friday's at 13:30 GMT for Tradercast, covering indices, FX and gold, silver and oil - all are welcome! You can read what others are saying about Zignals on


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