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Market Sentiment: Sector Breadth

Utilities cut from the pack.

Daily Market Commentary: Tech and Small Caps' New Highs

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Bulls will probably be a little disappointed the trading week is cut short by Thanksgiving, as the Nasdaq, Nasdaq 100 and Russell 2000 all posted strong gains on decent volume. The semiconductor index also got into the action with what's shaping up to be a 'bear trap' and potential breakout. Only a MACD trigger 'buy' awaits for a net bullish turn in technicals.

Market Sentiment: Sectorbreadth

Charts of sector bullishness. Energy one of the biggest losers in price, and second weakest in sector breadth - a good bounce opportunity for Tuesday?

Daily Market Commentary: Low Volume Action

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It looked worse on the intraday chart, but today's late day sell off wasn't too bad in the context of the larger bullish trend.  Volume was also light. Shorts may try another crack at the market, but it's unlikely to offer much given the week that's in it.

Daily Market Commentary: S&P Pushes New Highs

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Large Caps regained the momentum lost by three days of selling from the first half of last week.  Shorts in these markets will have covered on the break above 1,795, leaving them sidelined until the next opportunity arises. The shortened week is unlikely to offer too much guidance with Thanksgiving, so it will probably be a week featuring narrow range, but bullish action.

Daily Market Commentary: Small Caps Takes The Plaudits

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A decent rally for the Russell 2000 regained all of the last three days of losses. The rally reignited the relative strength advantage of Small Caps over Tech indices after four months of underperformance. Technicals are on the mend and they may re-establish a net bullish setup by the end of the week.

Daily Market Commentary: Drip Losses

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Shorts will have been happy with today's action; small losses, an attempt to rally in the morning cut short, and late afternoon selling suggesting 'those in the know' were playing the side of the market they wanted to be. None of this changed much on the grander picture, which means bears may can sneak another few days like Wednesday under the radar before the retail market takes notice. The Semiconductor index was again the one where bears were finding it hard to remain orderly in the move to the exits. An undercut of the 50-day MA was a little too easy, although 0.5%+ gain today would see this important support level regained. The index looks on course to turn technically net bearish over the next few days, which would be reasonable expectation for further declines.

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