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Market Commentary

Declan Fallon runs a market commentary blog at Markets.fallondpicks.com, and is a contributor to TalkMarkets and Seeking Alpha. He previously contributed to the Motley Fool. Declan Fallon is also a UI/UX Dashboard Designer for ... more

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Large Caps Turn South - Russell 2000 Remains Range Bound
We are seeing more definition in the trend direction for some indices, but even with Friday's losses, a more likely outcome for the weeks ahead is sideways trading with May lows a potential support anchor for this.
Nasdaq Primed To Breakout As Russell 2000 Tests 50-Day MA
The Nasdaq is back pressuring the 'bull trap' as it looks to break to new all-time highs above 14,211. Technicals are net positive including a relative performance advantage over the Russell 2000.
Nasdaq Rebuffed By Resistance
Yesterday's gains in the Nasdaq pushed above resistance to challenge the April 'bull trap', but there wasn't the follow-through needed to maintain the breakout.
Russell 2000 Set Up For Breakout
Friday didn't offer a whole lot for Large Caps or Tech Indices; volume was down and the net position for the indices was unchanged. The Nasdaq is caught below internal base resistance.
Small Caps Confirm Support With Test
A bit of a mixed bag with the Russell 2000, having enjoyed prior strength, now finds itself in the process of backtesting support - with the $229 level key.
Small Caps Break From Trading Range
The indices are playing a mix of bullish and bearish signals, but really, it's up to the Russell 2000 to do the leading. 
Rally Returns Losses, But Resistance Remains
The Nasdaq is still underneath trendline resistance, but above its 50-day MA. Technicals are mixed with the 'sell' triggers in On-Balance-Volume and ADX offset by bullish technicals for the MACD and Stochastics.
Ironically, Dow Jones Barely Moves As Nasdaq Gaps Down
The Nasdaq gapped down off resistance but it remained above its 50-day MA. The MACD and Stochastics are on a trigger 'buy', with other technicals bearish - so there is a bit of a mixed bag here.
Second Gravestone Doji For Dow Industrials Average
The Nasdaq didn't do a whole lot today, but it remained below resistance.
Relief Rallies Now At A Crawl, But Russell 2000 Net Bullish
All eyes should be on the Russell 2000 for next week as there was little going on for other indices, and it looks to hold the key as to what will happen next. 
Rally Off May Swing Low Slows
The initial enthusiasm for the bounce from May lows is slowing as the intraday range tightens across indices. 
Market Gains Take The Edge Off Friday's Losses
For the Nasdaq, today's gains managed to finish above both its 20-day and 50-day MA. Volume was light but gain did come with a MACD trigger 'buy'.  Not to mention, the index continues to outperform the Russell 2000.
Nasdaq Rallies As Russell 2000 Remains Flat
All indices posted gains but it was the Nasdaq and S&P which did most of the leg work. The gain in the Russell 2000 was able to close yesterday's breakdown gap, but not much more. 
Relief Rally Fades Across Indices
Today's selling may be the start of a larger move down, but what it does do for now is pause the relief bounce - a bounce that has had little chance to get much traction.
Friday's Recovery Sets The Groundwork For A Swing Low
Friday marked the beginning of potential swing lows for the indices, although it will take more than one positive day to confirm such lows. 
Weak Recovery Doesn't Offset Wednesday's Losses
The S&P recovered from its 50-day MA but the break of trendline will take more than one day to resume the prior trend. The index is outperforming the Russell 2000 despite the losses.
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