Declan Fallon | TalkMarkets | Page 67
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 First ...more

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Friday's Flat Finish
The last two days of last week saw little change in markets. Volume was light, in line with quiet action. Next week will be an opportunity for follow through on the gains made during the first half of the week and see some pressure on all-time highs.
Solid Follow Through By Bulls
Gains in the S&P were paired with further losses in relative performance (against the Russell 2000). However, other technicals are improving and the only other 'sell' trigger in the MACD could turn into a strong 'buy' by the end of this week.
Bulls Turn Up On Day 3
Bulls were a little late to the party, but today's action was positive and brought markets away from the brink.
Sellers Keep Pressure On
A second day where bulls were unable to hold early gains and markets closed at lows. Following from Friday's action it was disappointing to see bulls failing to build on the two steps forward, one step back nature of this rally.
Friday Fails To Recover Thursday's Losses
Friday's end-of-week action didn't generate a big splash, but it did give an inkling as to what might happen for the coming week when the sequence of loss, gain, loss was met with a failure of markets to hold on to Friday's strong open.
Sellers Engage In Tug Of War
The S&P finished with a 'bull trap', expanding on the earlier MACD trigger 'sell'. Other technicals remain positive and relative performance is swinging back in favour of the S&P.
Bulls Buy The Dip
Over the past couple of weeks the rate of buying has slowed. This slowing has become more pronounced as indices pushed into November/December consolidations, but today was a concerted effort to reverse this.
Win Some, Lose A Little
Bulls continue to enjoy the benefit of greater gains paired with smaller losses. Today was no exception.
Relative Low Volume Profit Taking
It was no surprise to see profit takers sweep in and take money off the table. There was relative distribution in the S&P, although overall volume was well down on recent buying.
Gains For Tech, Indecision Elsewhere
The S&P finished with a neutral doji. The index hasn't yet challenged declining resistance connecting November/December highs and until this happens, shorts will have an angle to work.
Big Volume Accumulation
Options expiration played into Friday's volume, but it was a decent push by bulls for a rally which is in the latter stages of its run (at least on an intermediate time frame).
Low Volume Gains Tempers Strong Finish
A strong finish to the end of week was tempered by the relatively light volume. The S&P knocked on the door of the 200-day MA on solid technical strength. It will be important for buyers to keep buying pressure on as they challenge 2015 highs.
Further Accumulation On Bullish Response To NFP
Bulls kept things ticking over after initial negative response to NFP reversed to rally with a strong finish to the week.
Bulls Keep Gains Running
Bears were again unsuccessful in pushing an early advantage with bulls coming to feed late in the day. The gains were modest, but speculative Small Caps had the best of the action.
Low Key Bullish Push
After yesterday's solid gain it would have been easy for bears to take back some of those gains. Instead, bulls kept the pressure on with another day of gains.
Large Caps And Tech Breakout
After two days of losses bulls were able to push a move higher in Tech and Large Cap indices. The breakout in the Nasdaq was a clear run past the 50-day MA. Volume climbed to register an accumulation day, along with a relative performance gain.
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