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Second Day of Quiet Action

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The S&P lost a little, the Nasdaq gained a little, but there was no change in the larger picture.  The S&P registered a distribution day, of sorts: volume climbed, but as the index finished with a doji it doesn't really qualify as a heavy sell off day. The selling volume was enough to generate a 'sell' trigger in On-Balance-Volume too, but the whipsaw risk is high.

Stall in Action

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Not a day to get excited with. It would be pointless to say too much, so here are the charts:

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Dow and Semiconductor Index Add to Gains

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It was another relatively quiet day for the indices, except for two. The Dow pulled away from breakout support, although volume was lighter. Technicals are all net positive.

Holding Friday's Gain

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In what amounted to a really dull Monday, indices were able to hold Friday's gains. Anything else to say is really just noise. As part of the noise is a relative shift in the semiconductor index away from Semiconductor Index, to the Nasdaq 100. However, the price breakout held.

Dow Breakout Continues Market Strength

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A fresh breakout for the Dow continued the strong run of form for the indices. The Dow closed above 18084, as early morning weakness was unable to crack bulls resolve. Volume climbed to register accumulation.

A Repeat of Yesterday's Action

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For today, see yesterday. There is really very little to add on that. I'm surprised the S&P is holding on to its breakout given how tight it is to 2093 support.

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