Declan Fallon Blog | Talkmarkets | Page 1
Senior Market Technician at ActivateClients

Declan Fallon is the Senior Market Technician for ActivateClients Ltd., and Community Director for Zignals.com.  Declan Fallon runs a personal blog at markets.fallondpicks.com, is a former ... more

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Rallies Slow As Semiconductor Selling Eases
Markets experienced early gains but gave them back by the close of business. Given the mini-rally of the past five days, some of the indices are looking vulnerable to a new round of selling.
Semiconductor Index Offers Shorting Opportunity At 50-Day MA
While most indices were able to post small gains it was left to the Semiconductor Index to post a small loss; leaving a bearish engulfing pattern at its 50-day MA and an ideal opportunity for shorts to take advantage of the new downward trend.
Tech Indices Dig In At Support
It was a relatively quiet day for markets so today was more about the working status of potential trade setups.
Russell 2000 Breakout Under Pressure
The Russell 2000 break of 1,520 is under threat with today's loss. Next up is converged 20-day and 50-day MA support but such a test will confirm the breakout loss and open up for a new trading range opportunity.
Semiconductor Index Continues To Sell Off
After Friday's sell-and-recovery it had looked like there was an opportunity to play a bounce, particularly for the Semiconductor Index. However, the reality proved to be different.
Indices Stage Intraday Recoveries In Wide Range Day
Volatility took a tick higher with profit taking sweeping across the broad before buyers zipped it all back up.
Profit Taking Sweeps Tech While Large Caps Gain
There was a clear shift in market behavior as Large Caps enjoyed the fruit of renewed buying as Tech indices (Semiconductors mostly) felt the heat of profit taking.
Large Caps (Financials) Make The Jump Against Tech
A confluence of positive data fueled the advance in Large Caps along with a dollop of short covering.
Friday Should Be A Winner
Thanksgiving Wednesday was never going to generate an exciting day but it was good to see early week gains retained.
Russell 2000 And Semiconductor New Highs / S&P Breaks
The S&P broke higher to confirm a 'bear trap' and also closed at a new all-time high. Volume climbed to register an accumulation day but there were further losses in relative performance and continued losses in the MACD.
Russell 2000 Clears Resistance
The Russell 2000 followed through higher with a break of resistance and a bullish cross of mid-line stochastics. The 'bear trap' follow through is for new all-time highs.
S&P 'Bull Trap' Becomes A 'Bear Trap'
As this rally has often done, just as you expect a reversal to start, bulls come in (hard) to bid up the market. The S&P had the clearest switch as it moved from a 'bull trap' to a 'bear trap'.
Bulls Able To Recover Early Losses
Another day where bulls had to dig deep to make back early losses but there was little more beyond that.
Russell 2000 Turns Net Bearish Despite Intraday Recovery
There may still be enough for bulls to reverse the bearish technicals but there is little room for maneuver.
Russell 2000 Finishes Neutral; Tech Posts Minor Gains
Tech indices held on to Thursday's recovery and then managed to post a small gain (or at least a higher open). The Nasdaq is holding to its rising channel which keeps the broader bullish picture intact.
Russell 2000 Hangs On
There were gains for all market but the Russell 2000 was able to dig in and come back after an early loss of 'bull flag' support.
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