S&P and Semiconductors Breakout

Market divergences continued to play out. This time, the S&P and Semiconductors broke clear in fresh breakouts, but the likes of the Nasdaq and Nasdaq 100 haven't yet followed Semiconductors higher.

The S&P cleared the last swing high, but still has August highs to breach. Technicals, outside of On-Balance-Volume, are bullish.

The Nasdaq finished higher but hasn't yet marked new all-time highs. As with the S&P, technicals - other than On-Balance-Volume - are bullish.

Finally, the Russell 2000 finished with yet another higher close. There can't be much juice left in the tank before traders take profits.

The next thing to look out for is what will happen when sellers do take up the opportunity gains since Trumps' election have delivered. From a charting perspective, these gains do look artificial.

You've now read my opinion, next read Douglas' blog.

I trade a small account on eToro, and invest using Ameritrade. If you would like to join me on eToro, register through the banner link and search for "fallond".

If you are new to spread betting, here is a guide on position size based on eToro's system.

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 for ChartDNA.com, and Product Development Manager for FirstDerivatives.com. I also trade on eToro and can be copied for free.

Popular posts from this blog

Round 2 for the bearish "black" candlestick in S&P and Nasdaq

Big bearish engulfing patterns as positive start negated

Being "Right" but still losing...


Show more