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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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Friday Finishes Week On A Positive But Momentum Lacking
There was no big change in the technical picture of the indies, but all markets managed to make a positive close on the week. Indices started Friday with gaps higher and finished the day as much as they started.
Edge Breakouts For Indices
It wasn't a major move but buyers were able to push new highs, nicking breakouts for the S&P and Nasdaq, but not yet the Russell 2000. I would like to see more volume with the move and ideally, a large white candlestick.
Semiconductor Breakout But Trading Volumes Tepid
Not a whole lot to report for today although the Semiconductor Index did register a breakout. This was supported by a relative performance gain against the Nasdaq 100, and this should help Tech indices maintain their market leadership.
Low Key Losses Change Little
Aside from the Nasdaq which broke through rising channel support, other indices remain caught along breakout support.
Nasdaq Breaks From Rising Channel
There has been a slowing of the rising trend in the Nasdaq, to the point it has dropped outside of its four month rising channel.
S&P Nudges Breakout
The S&P didn't break resistance with any great fanfare and the move lacked volume, but a breakout is a breakout.
S&P Edging A Breakout?
The S&P made a small gain but it may have been enough to register it as a breakout. Volume was light but the sentiment was not.
Still Waiting For S&P And Russell 2000 Breakouts
Friday offered a low key finish to the week with both the S&P and Russell 2000 left much as they were on Thursday - ready to breakout.
Russell 2000 Readies For Breakout
The past couple of days have been good for the Russell 2000. There is a bit of upside momentum in addition to an acceleration in relative performance against market-leading Nasdaq.
S&P Breakout Wait Continues...
One step back - one step forward. The S&P made back most of Monday's losses on slightly lighter volume than the previous day's distribution selling. The breakout has yet to occur but Tuesday's gain keeps that possibility intact.
S&P Readies For Breakout
With the week behind us, the S&P stood poised to break to new highs for the recovery rally, following the lead of the Nasdaq which is already posting new multi-year highs.
Nasdaq Moves To Challenge "Gravestone Doji" High
The Nasdaq has been leading indices throughout 2020, even the sell-off caused by Covid-19 was not as bad as was inflicted on the Russell 2000 or S&P.
Buyers Attempt To Defend Support
Sellers had managed to push indices back to support levels where buyers are looking to make a stand.
Markets Ease Back From Breakouts
Last week ended for markets with sellers in control. The damage was sufficient to put markets on warning for a bearish reversal - but the last such attempt in early June was quickly reversed by buyers; will this time be different?
Sellers Take Control
The Nasdaq had been the lead index as it posted new all-time (post-Covid19) highs, but today's selling followed yesterday's bearish gravestone doji; collectively, it looks like a bearish evening star.
Minimum Gains Give Bulls Reason For Optimism
Traders had a weekend to stew over Friday's losses and a weak open on global markets could have set a more negative tone. However, this proved not to be the case.
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