The first attempt at a top in January ceased to be with this week's close at new highs. For the S&P there is a series of reaction lows in 2008 which kick in at 1,222 and range up to 1,260. The Nasdaq has long since passed 2008 reaction lows and is fast approaching the first of the 2008 reaction highs. The Nasdaq 100 is only some 50 points away from the first of the two reaction highs in 2008; it could reach this point by the end of next week. Breadth saw significant changes. First there was a confirmed 'buy' in the Nasdaq Percentage of Stocks above 50-day MA - although it is fast approaching declining resistance. Same with the Nasdaq Summation Index (confirmed 'buy' on Mar 1st) But there was resistance break for the NYSE Summation Index on its confirmed 'buy' signal for March 8th. But not all resistance has cleared for large cap's market internals So while internals have shifted net bullish the change came from non-oversold co

Bulls kept bears out of the game for yet another day as the rally powered higher. Small Caps built on their leadership (note relative strength to the Nasdaq) as the MACD trigger line climbed to new 6-month highs. While markets may not necessarily head down tomorrow bulls should be looking for a test of the 20-day MA before another challenge of highs is made. The worry with the advance as sharp as it has been is its similarity to a blowoff top; if we start to see more gaps it will take on the characteristics of an exhaustion run. The Nasdaq hasn't yet embarked on such a run, but note how rising support is merging with the rate of advance in the 20-day MA - likely to see a key test here soon. While the S&P should follow Tech and Small Caps higher, it's up against resistance of 1,150. If an excuse is needed for a sell-off this is it. But the Nasdaq Summation Index doesn't look done yet; bullish for Tech (or at least less bearish if a sell off emerges). Watc

Small Caps and Tech continued their good form. Technicals continue to support the move higher for Small Caps (Russell 2000) with new highs for the MACD and +DI line. The Russell 2000 would have to give up 25 points (or 4%) just to test breakout support at 650. The prior underperformance of the semiconductors was undone with today's 2% gain. This revival helped keep the rally in the Nasdaq ticking over But Large Caps didn't quite live up to the gains of Tech and Small Caps Last Friday's breakout gap remains the most tempting pullback zone. Follow Me on Twitter Build a Trading Strategy in Zignals; Read how and earn real money (once out of Beta) in this PDF. 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 or the Zignals Trading Strategy MarketPlace . Zi

It was looking very good for bulls until about 2:30pm when profit takers swooped in as the usual market worries kept optimism tamed. The watch areas for bulls are the breakout gaps; one from last Friday and a second from last Monday. Large Caps suffered the worst of the selling which was odd given their under-performance against tech and small caps. Bulls will probably be happy to see some easing in Small Caps; the current angle of ascent is not sustainable. Tech will probably take their lead from the SOX which closed lower and is very close to a test of its 50-day MA. So for Wednesday look for some push back towards last week's gaps. Follow Me on Twitter Build a Trading Strategy in Zignals; Read how and earn real money (once out of Beta) in this PDF. 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

We will soon be launching dynamic HTML landing pages which will allow individual users, bloggers, financial gurus, financial newsletter publishers, traders and anyone with an interest in stocks or financial markets to market their trading ideas and trading strategies created on Zignals. If you are looking at how Zignals can work for you, then here is a presentation for you Benefits To Independent Advisors And Market Commentators View more presentations from fallond . Feel free to contact me at declan-at-zignals.com it you have questions or would like further information on how we can work for you. Follow us on twitter here How to Get Started with Zignals Build a trading strategy in Zignals and potentially earn money too; download our Build a Trading Strategy PDF and get selling (and trading) today! 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_

It was a respectable day for bulls. No significant move in either direction and lighter volume to boot. The good news was Friday's gains held and kept momentum firmly in the bulls court. Small Caps enjoyed six days of continuous gains but it will soon be time for a pullback - even if it ends up been a relatively modest one as it was at the end of December. For the S&P Monday's doji is another swing trade opportunity with a stop on the flip side of the break. There was also improvement across the intermediate time frame with the Nasdaq Bullish Percents clearing resistance There was also a break of the last reaction high in the Summation Index So while the short term is toppy bulls are firmly in control. I wouldn't be surprised if today's tight trading gives way to another long white candle tomorrow. Follow Me on Twitter Build a Trading Strategy in Zignals; Read how and earn real money (once out of Beta) in this PDF. Dr. Declan Fallon, Senior Market T

It has been a long weekend but the transfer of these files from my ISP to Google is close to complete. At least blog.fallondpicks.com is redirecting. So much to test! Follow Me on Twitter Build a Trading Strategy in Zignals; Read how and earn real money (once out of Beta) in this PDF. 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 or the Zignals Trading Strategy MarketPlace . Zignals offers a full suite of financial services including price and fundamental stock alerts , stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager , active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy