The S&P had a small bullish engulfing pattern, but in the absence of oversold conditions it's not a strong a bullish candle. However, the index did make a relative gain against the Russell 2000 which is not so helpful.
The Nasdaq was down a little, but supporting technicals remain in good shape.
The Semiconductor Index is shaping a 'bull flag' on the back of strong technical strength. The index is well above key moving averages but is not showing any signs of slowdown. Again, this is bullish for the Nasdaq and Nasdaq 100.
So far, so good.
You've now read my opinion, next read Douglas' blog.
---
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
Investments are held in a pension fund on a buy-and-hold strategy.