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Quick Update: Bulls Need This Rally To Work

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It's an important time for bulls to work their magic.  Markets are still vulnerable and Blain over at StocktradingToGo  has a chart for the S&P which neatly shows the challenges bulls have to overcome if something more dramatic to the downside isn't going to emerge. I have repeated the key elements here. In effect, for the S&P, bulls have to hold rising channel support and comfortably clear 1,360 if it's going to offer sideline money the confidence to step in and buy.  Today has offered a good start, but there is still more to do. Have a great weekend! --- 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

"Gone Fishing" until Weekend

Travelling on business so out-of-action until the weekend.

Daily Market Commentary: Consolidation

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After recent gains it was inevitable there would be a rest day. Today was a perfect consolidation with a close  near yesterday's highs and lower volume selling.  Technicals continued to improve. The Nasdaq turned net bullish as action was concentrated above the 50-day MA.  The narrow intraday range offers a swing trade opportunity on break of day's high/lows. It was the same story for the Russell 2000. The S&P continues to lead technically and is the index best positioned to make further gains. As long as selling volume remains light it will keep the rally alive. --- 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. Th

Daily Market Commentary: Early Follow Through?

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Today's buying came earlier than expected and helped solidify the bullish position. The S&P finished above its 50-day MA on higher volume accumulation with a net bullish turn in technicals; a solid day for the index and gives some breathing room when sellers make their inevitable return. But there was also another pass made with a relative strength shift to Small Caps and away from Large Caps - nascent though this shift is. This shift in relative strength was made apparent in the Russell 2000 after yesterday's disappointment.  Buyers pushed the index through its 50-day MA, leaving it close to a resistance challenge. The Nasdaq fell between the S&P and Russell 2000 with its modest 1% gain. It too was able to finish the day above its 50-day MA, but it was unable to finish the day with net bullish technicals. However it's well positioned to make additional gains. The only spanner in the works for the Nasdaq is the lagging semiconductor index.  In a mix

Daily Market Commentary: Breakouts Hold

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As Greek election results passed into history it was left to buyers to continue Friday's breakouts. Both Tech and Large Caps enjoyed a solid day with Tech perhaps edging the action on the day.  Buying volume was well below Friday's which marked Monday as a consolidation rather than a follow through. In addition to the channel break there was a bullish cross for the Directional Movement Index and On-Balance-Volume. Last week the Nasdaq 100 cleared channel resistance and posted a secondary breakout (the Nasdaq did likewise). There was also bullish crosses for On-Balance-Volume and Directional Movement Indicator. The S&P was more subdued on the day. It started the day closest to its 50-day MA and therefore best positioned to put itself into clear air, but by the close of business it remained contained by moving average resistance. The Russell 2000 continued to struggle despite finishing higher. More worrying, there is an increase in relative strength loss to t

Two Stocks Bucking the Selling: $AUXL and $CYBX

My latest Motley Fool post on Auxilium Pharmaceuticals ($AUXL) and Cyberonics ($CYBX) is available here Other stocks of interest covered in previous articles: $RAI, $TFM,   $P, $DSW, $PPC ,  $DRI, $GHDX ,  $GMRN, $ELRC, $MGRC ,  $MELI ,  $AKAM, $NTES ,  $GOLD, $PAAS ,  $ADP, $PAYX, $TXN ,  $CHK, $TSO ,  $POT, $FCX, $APL I own shares in $APL and $FCX.

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