Are bulls to make a stand? The Stockcharters discuss. Anthony Caldaro of Objectiveelliottwave.com has marked the start of wave 2 of a five wave pattern down on the 60-min SPX chart. But on the daily timeframe this is still part of the three wave down (therefore for this to be true, 1,104 cannot be breached on the rally) An alternate bull count for the Nasdaq: Yong Pan of Cobrasmarketview has a swathe of neutral signals on the short and intermediate term time frames - it's anyones game. Interesting take here - was Friday's strong afternoon response the necessary reversal or will these gains get pegged back Monday? So Yong Pan is looking for 4 strong days to follow to help shore it up: Plenty of whipsaw to watch for: Also looking at the 200-day MAs (my preferred bounce level): Richard Lehman of TrendChannelMagic.com sums it nicely at the beginning (my emphasis) 2/6 -- Friday's drubbing reaffirmed the larger downtrend I've been referring to for the last week or two.

Since the weekly trend breakdowns markets haven't managed to mount a serious challenge of recent highs. Instead, markets have continued down to trigger confirmed 'sell' signals. Where there was a spread in the confirmed weekly 'buy' signals last Spring, this time the markets have universally given confirmed 'sell' triggers. The S&P confirmed 'buy' was April 3rd and Friday - Feb 5th - was the confirmed 'sell'. For the Nasdaq the confirmed 'buy' was March 30th and Friday was the confirmed 'sell' And for Small Caps April 3rd was the confirmed 'buy' and Friday the confirmed 'sell'. With all three major indices on confirmed 'sell' triggers next it's time to look for exit points on the daily timeframe. With Friday's heavy volume reversals there is a good chance for rallies lasting up to 3 weeks. The peak of the resulting rally will define the downtrend channel for the next phase lasting for (pote

Whatever strength the indices managed the past few days was quickly whipped away. Semiconductors drove the push lower with a 4.6% loss bringing the index very close to its 200-day MA; a test of this moving average is looking likely. The S&P went from a potential bull trap to a confirmed breakdown. Death cross between 20-day and 50-day MA imminent. The nascent CCI 'buy' signal in the Russell 2000 was also blown away. There was a relative strength swing away from Small Caps towards Tech, with Large Caps leading the markets - the most bearish alignment for markets. Tomorrow will probably lead off with a rally, but if this is the start of a more protracted decline then a respectable rally is required to define the upper boundaries of a new downward channel. Dr. Declan Fallon, Senior Market Technician for Zignals.com , offers a range of stock trading strategies for global markets under the user id: ‘Fallond’, ‘ETFTrader’ and ‘Z_Strategy’ available through the latest rich intern

A non-event day; techs made small gains, small and large caps posted small losses. From a technical perspective there was at least a stochastic 'buy' for many of the indices. The Russell 2000 remained contained by its 50-day MA Of the market breadth indicators, the Percentage of Nasdaq Stocks above their 50-day MA marked a bottom as it crossed its 5-day MA helped by an Ultimate Oscillator 'buy'. Other market breadth indicators are still some way from firming a bottom but buyers are prepared to take a look here. Dr. Declan Fallon, Senior Market Technician for Zignals.com , offers a range of stock trading strategies for global markets under the user id: ‘Fallond’, ‘ETFTrader’ and ‘Z_Strategy’ available through the latest rich internet application for finance, the Zignals Dashboard ; many are ranked in the top-20 for 3-month and YTD performance. Zignals offers a full suite of financial services including price and fundamental stock alerts , stock charts for Indian, Austr

Second day of gains which were worth more to large caps than tech or small caps. For the S&P there was a close above the 1,100 as the S&P picked up relative strength against the Russell 2000 (large caps outperforming small caps). This may have left a substantial bear trap which could force a third day of big gains. However, even with two days of gains, stochastics of the S&P only just edged out of oversold conditions to give a 'buy'. The Russell 2000 outlined some of the difficulties the indices face in the days ahead as intraday strength stalled out at the 50-day MA. On the plus side there was a CCI 'buy' signal. Techs struggled even though it registered an accumulation day For Wednesday keep an eye on large caps as the best chance for a short covering rally is in these indices (S&P and Dow) but it may be short-lived (morning?) if other indices don't participate. Dr. Declan Fallon, Senior Market Technician for Zignals.com , offers a range of stock t

Markets enjoyed a temporary respite after a couple days of heavy selling. Stochastics reached comparable oversold levels to that of October - although channel support has long since gone for the indices. For the Nasdaq any relief bounce is likely to struggle at the 50-day MA as the 20-day MA works its way down towards an intermediate 'Death Cross' The Dow is closer to a 'Death Cross' - it has been a while since the 20-day MA cut below the 50-day MA; this will make 20-day MA resistance. There were bigger gains in the semiconductor index with an inside day. The S&P went a step better and closed above Friday's open. A push above 1,100 would give the rally some momentum. Bulls have a chance to make the rally work with the S&P best placed to make progress. Dr. Declan Fallon, Senior Market Technician for Zignals.com , offers a range of stock trading strategies for global markets under the user id: ‘Fallond’, ‘ETFTrader’ and ‘Z_Strategy’ available through the late

A big week for bears, but markets remain above their 200-day MAs. What will this week bring? Anthony Caldaro of Objectiveelliotwave.com is looking for a fifth wave low on the S&P 60-min timeframe. So far, Anthony has no updated count on the daily timeframe. Yong Pan of Cobrasmarketview has a mix of signals across short and intermediate time frames. Yong Pan's conditions for top/bottom Look out below? Sample short on the daily SPY: QQQQs have met their down-target obligation But stepping back at little (in the Nasdaq 100) sees a longer-term target of the 200-day MAs: Richard Lehman of Trendchannelmagic.com had this to say from the end of last week. 1/30 -- The short term Dow and the SPX charts now look best as slope changes on their purple downtrends. That may be due to the fact that they have hit the long term rising green channel line from last year. Meanwhile, the small caps have broken that same green line already and have continued down at the current pace. Small caps