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  Declan Fallon runs a personal blog at, is a former ... more


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Selling Extends For A Third Day
Indices extended loses for a third day but didn't change the picture from yesterday. The S&P is still sitting on a support level of the former channel as On-Balance-Volume extended on yesterday's 'sell' trigger.
Nasdaq Threatening 'Bull Trap'
A second day of selling brought the indices back towards support. The index looking most vulnerable with the potential to 'bull trap' is the Nasdaq.
Dow Struggles Continue As Tech Breakouts Hold
Breakouts in the Nasdaq, Nasdaq 100 and Semiconductor Index remain in effect while the Dow Jones Industrial average took an early hit in profit taking but on lighter volume.
Breakouts For Nasdaq And Nasdaq 100
Leading indices again continued in their leadership roles; the Russell 2000 managed a new swing high with breakouts for the Nasdaq and Nasdaq 100 after Semiconductors closed at new all-time highs.
Russell 2000 Passes Last Swing High As Semiconductors Breakout
The Russell 2000 may not be the index pushing all-time highs but the last four days have seen steady gains for the index - enough to generate a new relative performance advantage against strong performing Nasdaq and Nasdaq 100.
Swing Low In Russell 2000?
It was a strong finish for markets as they clawed back some of the early week losses. Some indices do look better than others and could offer bulls the opportunity they need into next week.
Sellers Double Down
Yesterday established a round of profit-taking after Monday's breakouts had suggested something more positive in the works. Unfortunately, another round of selling ranking as higher volume distribution left indices in a more precarious state.
Fresh Distribution
The breakout moves which saw indices clear the congestion of spike highs from last week were not violated so Tuesday's action will not as yet panicked existing longs or buyers of the February swing low to sell just yet.
Last Week's Weakness Is No More
Only relative performance is underperforming.
Markets Close Week Near Weekly Highs
Markets delivered a strong end-of-week close which for many meant a close near spike highs. The strongest finish of the week was delivered by the Nasdaq 100 - it posted a new high as it builds a challenge on the January 'bull trap'.
'Bull Trap' In Dow Jones Industrial Average
The Dow Jones Industrial Average finished with a 'bull trap' as it ducked below breakout support despite finishing above yesterday's close. Volume dropped as relative performance against tech indices took a marked step lower.
Sellers Come In But Semiconductors Gain
Markets were set up for sellers with most indices experiencing broad selling.
Rallies Continue But Still Considered Relief Bounces
The bounces playing out for markets still have the look of relief bounces - at least until technicals confirm net bullishness.
Defense Of 200-Day MAs Continue
Markets continued their advance after successfully bouncing off their 200-day MAs. While indices play defense and edge small gains they are in a position to gradually attract fresh buyers.
Volatility Breakout As Indices Successfully Test 200-day MAs
February has the potential - although there is plenty of time left to change this - of marking a shift towards a period of high volatility comparable to that of 2008. It doesn't mean markets will crash as in 2009 but it could be a rocky ride.
Decision Time For Russell 2000
The sell-off has been relatively orderly with a mix of accumulation and distribution. Barring initial breakdowns from acute channels there hasn't been any acceleration in the downward moves.
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