Large caps and Small caps held 50-day MA support, reversing much of the damage done yesterday but keeping the indices inside their trading ranges. The semiconductors continued to hold 510 support which is good news for Tech stocks. The Trade Ideas scan was bubbling with a Top-8 list picked in under a minute , and a "20-appearance" list done in 12 minutes . If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial. If you are interested in knowing what I do with the "Top-8" and "20-appearance" data I have prepared a report here . Trade Ideas

Just as markets were starting to make their way to new highs sellers stepped in to take some of the gloss off markets recent advances. Large caps were pushed back under June resistance but Tech averages, although experiencing distribution, can look to the semiconductors which held their break of 510. The Trade Ideas scan was slow with the top-8 pick list coming in at 28 minutes and a "20-appearance" list which took 302 minutes . If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial. If you are interested in knowing what I do with the "Top-8" and "20-appearance" data I have prepared a report here . Trade Ideas

For the next 6-months I will be looking at the performance of stocks which make frequent hits on my scan (i.e. "the 20-appearance" list) and comparing them to the stocks which feature fewer than 10 times. Four stocks will be selected from each list and posted here. Nasdaq stocks will be included in this series. The first set of four picks will reflect the fewer than 10 appearances - the last set of four will be the "20-appearance" picks (<10 vs >20). Semiconductors were again the star on the day. This is excellent news for the Nasdaq and Nasdaq 100 (and the market as a whole). Money continues to cycle from large caps into tech (note relative strength between the indices). The "Top-8" picks were selected inside 4 minutes and the "20-appearance" broke the mark at a healthy 33 minutes . If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial. If you are interested in knowing what I do w

The week ended with a 'feel good' vibe for Bulls. There were decent gains on light volume, but also some important resistance breaks in some of the indices. For small caps there was a break of June resistance, part of a now larger broadening pattern. Because of the larger pattern there is substantial upside room for a rally to resistance (assuming June highs are breached). The Nasdaq ended its struggle below 2,635 and was able to convert some bearish looking candlestick patterns in June into more favorable support. It is approaching broadening wedge resistance but support is nearby below - potential breakout? In favor of a tech index breakout are the new highs in the semi-conductor index. There was also a critical weekly close above 510: Which the point-n-figure chart shows best: Large caps have struggled for the last month as money rotates from large caps back into the more speculative tech and small cap indices. The S&P closed at a clear resistance level: While the Dow

Bulls kept the markets ticking over nicely with flat returns on large caps but gains in the Tech averages. The Trade Ideas scan was bullish with the top-8 picks selected in 9 minutes and "20-appearance" list in at just over an hour . If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial. Trade Ideas

I took a look at what I wrote last summer when (shock and horror!) I was very bullish. Apologies for the writing which is simply poor in parts (and that's my bad): June 27th: The tension finally broke as markets took a sharp dive on increasing volume. Given the extent of across the board declines the increase in volume was unusually muted. Has the capitulation already occurred? Watch how June lows hold in all markets. The semiconductor index is the most vulnerable as it finished Tuesday at new closing lows. While the Russell 2000 flashed a bull trap also losing its leadership role to the S&P. The S&P held to joint resistance of the 20-day MA and a downward price channel; watch for new lows if support of the channel is tested on the next decline. Secondary technical indicators or market internals [$NASI, $NAA50 and $BPCOMPQ] stepped back from some of their recent bullish action. The $BPCOMPQ switched back below its 5-day EMA along with the $NAA50. The supporting technicals

A little slow with getting this post up (a sick baby has a habit of intervening!). The week ended in a struggle between the bulls and bears. Bulls probably hold the edge after Wednesday's gains but this could change into the coming shortened week, or double mini-weeks. Joe Reed has a nice chart showing the Nasdaq Bullish Percent and the bearish divergence between it and the parent index, a non-confirmation for the bounce - it's the first time I have seen this chart from him and its a good one: His 10-year yield chart is trading close to potential gap support, but I suspect a move down to 4.9% is more likely: Joe looks to have gone with a 'called top' in the S&P: and a breakout in Oil: Ted Burge has the market in a neutral position. It is interesting to see he has resistance for the Nasdaq 100 above the recent high - a chance for a test (and therefore, more upside)? The point-n-figure chart would appear to favor more upside with a target of 1,970: Matthew Frailey