Slight loss on even slighter volume.  Very little going on in the market at the moment. The Russell 2000 back tested its 20-day MA on a slight drop in technical strength. While the Nasdaq 100 kept the pressure on resistance without breaking it. The S&P was quiet, but unlike the Russell 2000 technicals remained firm. Rinse-and-Repeat; short term favors a pullback from channel resistance for the Dow and Nasdaq 100. --- 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 Trading Strategy Marketplace Leaderboard. The Leaderboard also supports advanced search capability so you can tailor your strategies to suit your individual requirements. Zignals offers a ful...

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The week finished with a small gain for the indices.  Vacation trading means any substantial move is going to struggle to gain momentum until September rolls in. The Dow is nicely primed for a breakout, although volume will need to be more inspiring than recent weeks. The Russell 2000 had little to show other than a MACD trigger 'buy' on the weekly timeframe.  However, Stochastics are still working off an overbought condition so it's not an ideal time to be buying given the last swing high failed to make it into overbought territory. The Nasdaq had probably the best of the weeks action, gaining almost 2% on okay volume.  It too saw a MACD trigger 'buy'. Although Nasdaq Market Breadth was little changed.  The Summation Index is a good example of this The S&P, like the Dow, is ready to break. Next week will be important for those S&P and Dow breakouts. --- Follow Me on Twitter Dr. Declan Fallon is the Senior Market Tec...

In almost a repeat of yesterday, semiconductors made the most of a quiet day, but other indices traded within very narrow ranges.  Volume light across all indices, including the Nasdaq 100.  The outlook remains the same; Nasdaq 100 and Dow at resistance and perhaps the indices most likely to retreat first. Will tomorrow see a change? Swing trades will appreciate the narrow action; coiling tension for the next big move. 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 Trading Strategy Marketplace Leaderboard. The Leaderboard also supports advanced search capability so you can tailor your strategies to suit your individual requirements. Zignals offers a full suite ...

In a similar vein to yesterday's, markets traded in a relatively narrow range, to the extent many traded inside yesterday's range. Volume dropped as is typical with a consolidation. The semiconductor index was able to push its advance a little while technicals made good ground. The Nasdaq eased back a little, but is above 2,988 support. While the S&P managed to make a small gain. The Nasdaq 100 bucked the trend by trading some big volume at resistance; it remains an aggressive short at resistance. Will bears make an appearance tomorrow? The presence of the Nasdaq 100 and Dow Jones at channel resistance suggests their side is favoured. --- 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,...

Relative strength clearly shows the  leadership of Large Cap stocks from the mid-July swing low, but the rally of the past three days has seen Small Caps gain an edge over its Large Caps counterpart, although Large Caps still hold a relative advantage. Gains in the Russell 2000 have seen supporting technicals turn net bullish. Next resistance looks to be up around 820. However, the Dow looks to be an index up against resistance.  Light buying volume suggests resistance will hold tomorrow. It was a similar story for the Nasdaq 100. Although there was an important breakout in the Semiconductor Index.  This, combined with the strong buying volume in the Nasdaq 100 suggests there is a stronger chance of a resistance breakout in the Nasdaq 100. So for Wednesday, look for a rebound off resistance in the Dow, but a possible resistance break in the Nasdaq 100.  The semiconductor index and Russell 2000 offer better long term bullish prospects, but it ...

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