Declan Fallon Blog | Talkmarkets | Page 1
Dashboard Designer for First Derviatives/KX Systems

Declan Fallon is a UI/UX Dashboard Designer for First Derivatives/Kx Systems.  Declan Fallon runs a market commentary blog at Markets.fallondpicks.com, and is a contributor to Talk Markets and Seeking Alpha. He previously ... more

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Long Term Investors Get Another Bite But Traders Under Pressure
The Nasdaq undercut the piercing swing low on an end-of-day close which is probably enough to trigger most trader's stops.
Bullish Piercing Patterns On Accumulation: Investor Buy
The developing (major) swing low got a big boost with another sizable wide range, bullish piercing pattern - similar to the bullish reversal candlestick from October 31st.
Rallies Intact Despite Recent Losses
Markets enjoyed decent gains which - over the last 3 days - have given back some of the advances.
Rallies Run Into Channel Resistance
The initial bounces off spike lows have encountered their first major test of supply with pushes into newly drawn channel resistance. All indices are mapping this price action.
Volatility Picks Up As Selling Volume Lightens
Intraday ranges were wide as indices struggled between building swing lows or selling off even more.
Losses Look Bad But Long Term Investors Should Be Accumulating
Friday was ugly but could have been a whole lot worse.
Sellers Step Up The Pace
Investors should feel confident in taking advantage of putting money to work here and to continue to do so should prices fall further. The key thing is not to put all your money to work at this time.
S&P Breakdown From 'Bear Flag'
There was no acceleration in the losses for the Russel 2000 and Semiconductor Index but today it was the turn of the S&P to break from its 'bear flag'.
Breakowns In Semiconductors And Russell 2000 Indices
There was no reversal on the 'bear flags' but in the case of the Semiconductor Index and Russell 2000 there were breakdowns from those same 'bear flags'.
'Bear Flags' Take Shape In Indices
Since the last update indices got their bounce but the last couple of days have seen these gains gradually erased. Over the course of the week, the entire bounce has the look 'bear flags' as part of larger measured moves lower.
Friday's Bounces Ease Back A Little
There was no real surprise to see the gains from Friday come back a little as Thursday's lows play a siren song. The most likely outcome is a consolidation pennant as prices focus off last week's lows.
Indices Defend 200-Day MAs
Last week's selling put pressure on markets not seen since 2016 but the run of good form has meant Tech and Large Cap Indices are only now testing 200-day MAs. There was a brief overshoot on Thursday but the week closed more settled.
Buy Signals Blown Away
The support levels which were on offer for the Russell 2000, Dow Jones Industrial Average and S&P were undone by the biggest one-day loss in the year. Not surprisingly, volume rose in distribution as traders bailed.
Buy Small Caps
On Friday, the Russell 2000 tagged its 200-day MA in a manner which was picture perfect for those peppering the 200-day MA with GTC 'buy' orders.
Russell 2000 Tags 200-day MA; S&P At 50-day MA; Semiconductor Cracks
Indices recorded another set of losses but some now offer an opportunity for longs. Best of these belong to the Russell 2000.
Small Caps Take Another Step Down
Small Caps weren't able to recover the channel and another 1%+ loss was chalked up.
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