Today's losses barely registered in the larger scheme of things. There was slightly heavier volume selling in the S&P, but the doji suggests indecision. The S&P is some way from a test of support, so another few days worth of losses are unlikely to make too much of a difference as to the direction of the trend. ($SPX) via StockCharts.com The Russell 2000 had offered itself up at former support-turned resistance and it experienced one of the biggest losses on the day. Although it was still a relatively small decline. ($RUT) via StockCharts.com Meanwhile, the semiconductor index took the biggest hit Tuesday. While there was no loss of support there were new MACD and CCI 'sell' triggers to contend with. ($SOX) via StockCharts.com Tomorrow is likely to see more of the same. Sideline money has little incentive to step in without support to look too. Existing holders have no reason to sell with the trend running in their favour. While shorts will be worried a...

With the S&P and Nasdaq trending in the middle of their upward channels it was left to the Russell 2000 to offer something of interest. The Russell 2000 rallied to take it to former support turned resistance. At Monday's close there is limited upside unless supply at the channel is breached. Technicals are all bullish so it may be a slow reversal, starting with a doji (or some form of indecision) tomorrow. ($RUT) via StockCharts.com The semiconductor index managed a new closing high after a successful defense of converged breakout support and its 20-day MA. ($SOX) via StockCharts.com Tomorrow offers some potential for bears in the Russell 2000 at channel resistance, but trend followers are likely to stay long. Follow Me on Twitter Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com . I offer a range of stock trading strategies for global markets which can be Previewed for Free with delayed trade signals. You can also view the ...

This weeks five-in-five offer a mix of trend-following and breakout plays. Video runs a little tight at the end but the gist is clear. This week's five are CATM, MTD, MTH, PDS, RDWR. Follow Me on Twitter Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com . I offer a range of stock trading strategies for global markets which can be Previewed for Free with delayed trade signals. You can also view the top-10 best trading strategies for the US, UK, Europe and Rest-of-the-World in the Zignals Trading Strategy Leaderboard . The Leaderboard also supports advanced search capability so you can tailor your strategies to suit your individual requirements. Zignals offers a full suite of FREE financial services including price and fundamental stock alerts , stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock quote watchlists, multi-currency portfolio manager , active stock screener with fundamenta...

Can the Nasdaq follow the Nasdaq 100 higher? The index cleared a five week consolidation and is on the cusp of pushing through supply and into 'fresh air'. AAAA Nasdaq via StockCharts.com The Nasdaq 100 is leading the way. It too cleared its consolidation, but from a position of strength (i.e. limited supply). The trend is your friend. ($NDX) via StockCharts.com The Russell 2000 is also catching upward momentum with a bull flag breakout. If it plays out as a measured move then look for a push towards 1,000. ($RUT) via StockCharts.com The S&P is also above a resistance level and has 1,440 in its sights ($SPX) via StockCharts.com Overall Market Breadth for Nasadaq and S&P is in general decline (bearish divergence), but is far enough away from resistance to suggest this rally could move higher. The Nasdaq Summation Index is one such example, moving to a confirmed 'Sell' Trigger but offering upside potential. ($NASI) via StockCharts.com Play it ...

Very little to report on today. Markets eased back after a series of straight gains had kept bullish momentum to the fore. Losses in the S&P came on technical heavier volume, but hardly enough to rank as distribution - nor enough to suggest sellers were in control. Technicals remain healthy. ($SPX) via StockCharts.com It was the same story for the Nasdaq. It's recent MACD 'buy' strengthening to the upside. The volume selling had a stronger hint of distribution than for the S&P, but not enough to be an outright worry. ($COMPQ) via StockCharts.com Where concerns lie is with the Percentage of Nasdaq Stocks above the 50-day MA. There is mounting pressure with fewer stocks supporting the rally. At the October peak, 70.6% of Nasdaq stocks traded above their 50-day MAs. Today this figure stands at 58.7%. During this time the Nasdaq has added close to 10%. ($NAA50R) via StockCharts.com Finally, the Russell 2000 is trading close to former channel support turned r...

Recent strength of the past few days undid the bearish technical pressure from mid-January with new MACD trigger 'buys' for key indices. The S&P managed a new closing high on the back of its MACD trigger 'buy', but trading volume was light. Prices continued to rise in the middle of its channel which keeps bulls in control without advancing too far - too fast. ($SPX) via StockCharts.com The Nasdaq's MACD trigger 'buy' included a new closing high - although the new high occurred outside of its September-January channel; suggesting a new, slower upward channel is taking shape. ($COMPQ) via StockCharts.com The Russell 2000 had seen the largest pullback in its MACD from December, but recent gains did enough to switch to a MACD 'buy'. Today also registered a new closing high, but like for the Nasdaq it occurred outside of its former channel. ($RUT) via StockCharts.com Only the semiconductor index closed lower on the day. But it was able ...

It was another week of to-and-fro in the market; this time bulls took markets to the upper part of their weekly ranges. Only the S&P gave a hint of a possible breakout on the weekly chart. If the breakout is true (i.e. can hold above 1,300) then the next upside target is 1,440. ($SPX) via StockCharts.com The Nasdaq is still hemmed in by resistance at 2,818 Nasdaq via StockCharts.com While the Nasdaq 100 enjoyed a renewed push higher, trading well above 2,217 support ($NDX) via StockCharts.com Market Breadth ran contrary to gains in the Nasdaq. There were losses in Nasdaq Bullish Percents and Nasdaq Summation Index - although losses were small - they suggest a larger correction is required to take the heat out of the market. ($BPCOMPQ) via StockCharts.com The Russell 2000 is well above 760 support and is forming what looks to be a 'bull flag'. ($RUT) via StockCharts.com Markets on weekly timeframes haven't changed a great deal. There is perhaps a fr...