Friday's rally managed to reclaim the losses from the first part of the week, but the rally didn't clear resistance. Ironically, breadth weakened despite gains in parent indices. The Percentage of Nasdaq Stocks above their 50-day MA drifted down to 52% and is just about holding bullish territory.  Technicals are net bullish. The Nasdaq Bullish Percents finished with a small loss and haven't changed much since the Nasdaq swing low of June.  Technicals remain firmly in the net bearish camp. Nasdaq Summation Index was also lower. But technicals just about hold bullish territory. While breadth weakened, the Nasdaq kept above 2,890 support.  How long it can do so with breadth weakening remains to be seen. The S&P continued to hug former channel support turned resistance as it eats into its bull trap.  Volume was down on last week which may say more about quiet summer trading rather than general disinterest on the part of buyers. The Russel 2000 rema

My latest Motley Fool article on USANA is available here .  Other articles of mine can be found in my Motley Fool feed .

By in large, indices spent the day defending support but the Russell 2000 suffered a more telling loss after yesterday's 2% drop. The break of rising support in the Russell 2000 following yesterday's break of the 50-day and 200-day MA is a concern for other indices given the importance of Small Caps as leaders.  Note the sharp drop in relative strength compares to the Nasdaq (also bearish).  The consolation is the former declining resistance line and 764 area is holding as support, so the short term favors bulls. The S&P was able to defend the thick blue line of support on mixed technical strength.  Since the July low there has been a sharp swing to defensive Large Caps over Small Caps which doesn't bode well for the long term health of the is rally.  Note the comparison between April and July in relative strength to the Russell 2000; it could be an ugly decline which follows. The Nasdaq is entering an interesting crux as prices coil down between rising supp

My latest Motley Fool post on Cynosure ($CYNO) is live .

There was a registered a distribution day across key markets, but the distribution had more to do with Monday's light trading rather than Tuesday's heavier selling.  The loss in price was mild and fit with a orderly pull-back, maintaining the consolidation begun after last week's late gains.  Little else to add but just the charts: 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 also supports advanced search capability so you can tailor your strategies to suit your individual requirements. Zignals offers a full suite of FREE financial services including price and fundamental stock alerts , stock charts for

Very little to add on today's action.  Markets traded slightly down on light volume. Friday's technical improvement is clear in all charts. The Nasdaq is stuck under declining resistance with On-Balance-Volume dithering around a potential 'sell' trigger. While the Russell 2000 is effectively range bound, above key 50-day and 200-day MAs, but below the 20-day MA. The only real point of note was the net bullish turn in technicals for the semiconductor index. The 390 line is the breakout point Tomorrow will probably be more of the same, but with the improvement in semiconductors there is a good chance the Nasdaq will get to see best of the gains. --- 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

Some of the Portfolio Manager related jobs available: Commodities Portfolio Manager/Sr Analyst Senior Portfolio Management Officer VP Sr. Portfolio Manager Managing Director, Portfolio Manager, Fixed Income, Portfolio Management Group Associate, Portfolio Management Associate Portfolio Management Portfolio Relationship Manager Portfolio Administrator - Wealth Management Trader / Portfolio Manager Portfolio Manager Carryover jobs from last week US Equity Finance Trader Entry-Level Equities Trader Multi-Discplined Equity Trader Junior Equity Trade r Experienced Equity Options Trader Equity Sales Trader Institutional Equity Sales Trader Associate Portfolio Manager/Trader - Fixed Income High Yield Equities Trader Experienced Associate Investment Banking-Chicago, IL or Milwaukee, WI Algorithmic Trader Proprietary Equity Trader Subscribe to Trading Jobs by Email