The week closed with solid gains for the Russell 2000 , Dow , and S&P . The NASDAQ and NASDAQ 100 spent the bulk of the week watching from the sidelines, but did manage one-day of decent gains to keep their net movement bullish. There were bullish MACD trigger 'buys' for the NASDAQ and semiconductor index (but as yet, not the NASDAQ 100 ). This follows from earlier MACD 'buy' triggers in the Russell 2000 , Dow , and S&P . It was not all plain sailing. The semiconductor index held 50-day MA resistance overhead and MACD bearish divergence dating back to September. MACD bearish divergences are in play for the NASDAQ , NASDAQ 100 , S&P and Russell 2000 - and these will dominate even if last week's breakouts hold. Volume also failed to impress, but there is enough momentum from the bulls to keep on-balance-volume in line with bullish buying. The tech market internals [ $NASI , $NAA50 and $BPCOMPQ ] saw further gains with new closing highs

Small and Large caps closed the week strong. Tech averages barely budged. How did the Stockcharts see it? Joe Reed opens with a simple chart with a simple message. Take heed - strong resistance like this tends to produce scrappy action. Joe is looking for a bottom in the S&P Energy Sector. His chart shows it nicely: But is looking for a retreat in the Qs: Mitchell Meana has gone with a bear count in the Nasdaq 100. But is bullish for the Russell 2000: Ted Burge takes a dig at the Elliot Wavers: Feb 2, 2007! 35 years trading and one principle that has never changed. Someone will try and get your money and if you don't understand why price changes direction 'on a dime' it is time to learn. Easy to get drawn into the trap of believing that 'someone else' can predict better than you can especially when everything you are shown is after the fact and it 'sounds good' because you have been losing money. Analyzing waves is after the fact. No one can tell you

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I have switched bullish on the Ticker Sense Blogger Sentiment Poll for the next 30-days, based on the breakouts in the Russell 2000, S&P and Dow. I remain bearish over a longer time frame (> 3 months) given the weak market internals - but it is these same internals which have retreated far enough back that a new rally could kick off from here and last 1-2 months. Some of my newsletter picks, both subscriber [$] and free picks had decent enough days to suggest that bears are still fighting the tape. The chart text boxes with either: "Breakout" = Free Pick / "Subscriber Pick" = Paid-for pick, reflect the time of the feature. Here are a sample of some of the moves: Fallond

The Russell 2000 is generating a little breathing space on yesterday's breakout. Large caps are making another attempt to close with breakouts of their own. Reasonable buying in the Trade Ideas scan: 8 picks covered a time span of 4 minutes . There were a number of picks pushing above the 20 appearance mark .: VNO ( 36 ), GCO ( 26 ), WYN ( 49 ), CBE ( 23 ), SLF ( 27 ), DKS ( 23 ) and EME ( 39 ). One of the first to break above the mark was Emcor Group ( EME ). The stock trades inside a declining channel, having bounced off support (c$55) on a MACD trigger 'buy' - also $1 above the 200-day MA. The stock has managed to post a new reaction high, closing above both 20-day and 50-day MAs, and currently sits on the verge of a channel breakout. The point-n-figure chart is a little mixed with a bullish reversal signal, but a bearish target of $47. A measured move would take it to around $75. EMCOR Group, Inc. provides mechanical and electrical construction and facilities ser

Markets taking an initial shine to the Fed decision. Russell 2000 clears 797 resistance in a fresh breakout. New highs in Large caps. Techs remain range bound, but are at least working upside from their 20-day MAs (or mid-Bollinger band). The buying was reflected in the Trade Ideas scan; 8 picks covered a time span of under 1 minute . Topping in 45 appearances was Lowe's Companies ( LOW ) (actually - now that I look down the list I see Teleflex, TFX , on 57 appearances ) The best strategy play for this is to follow the trend channel. The stock recently enjoyed a "Golden Cross" between its 50-day and 200-day MAs. Major base resistance lurks at $34.50. Look for a handle to develop between $32 and $35 before the real fun starts. Projected target of $42. Current bearish point-n-figure chart target of $19 will be negated by a move to $35. Lowe?s Companies, Inc. operates as a home improvement retailer in the United States and Canada. It offers a line of products and services

Another non-event day. Only the Russell 2000 showed signs it could break channel resistance (and generate an important breakout). The Trade Ideas scan was buoyant enough at 2 minutes for 8 stocks. Coming in at 32 appearances for the day was DSW Corp. ( DSW ) - one of the few stocks to break the 20 appearance barrier. DSW trades a channel within a channel as the stock prepares to test $41.94 resistance. Stops can go on a break of the reaction low which also marks the most recent (successful) test of the 50-day MA. The point-n-figure chart holds to a target of $61, but is neutral for a price pattern. DSW, Inc. distributes and retails branded footwear in the United States. It offers a selection of brand name and designer dress, casual, and athletic footwear for men and women. The company also provides complementary selection of handbags, hosiery, and other accessories. In addition, it operates leased shoe departments for three nonaffiliated retailers and one affiliated retailer. If yo