Declan Fallon | TalkMarkets | Page 74
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

Articles

Latest Posts
1169 to 1184 of 1506 Posts
<<< 1 ... 72 73 74 75 76 ... 95 >>>
Sellers Make Late Claim
Today's close in the S&P left a bearish inverse doji (gravestone doji), marking supply above 1,950. Bears will feel confident heading into tomorrow's data, assuming Thursday's 1,975 high is not breached.
Distribution Selling Returns
After the late recovery last week, sellers again made markets their home. Sizable losses were accompanied with higher volume distribution, although volume was down on earlier panic. Another pass at August lows looks likely.
Modest Losses
The S&P is caught in a no-mans land, with a retest of 1,867 likely needed at some stage to rebuild confidence on bulls.
Rally Stalls Out
Markets sit at a point where shorts fancy their chances, but further upside shouldn't be surprising given the level of volatility. If there is an indication bears are going to come back, it's that buying volume has been well down on prior selling.
Shorts Rally - But For How Long?
A second day of gains keeps pressure on shorts in squeezing them out of their positions, but is also looking to sucker shorts into trying to second guess when this rally will end.
Selling Pummels Markets
The third day of selling pushed markets deeper into oversold territory and potential long term 'buy' territory. In my 'bottom' tracker, the S&P is priced in the 90% zone, while the Nasdaq and Russell 2000 is in the 85% zone.
Near Term Oversold, S&P And Russell 2000 In "Accumulate" Zone
Friday's action washed out bulls and likely scared off any buy-the-dip players. Longstanding trading ranges from 2015 were decisively breached on heavy volume. However, selling has reached a point where there is good chance of a rebound on Monday.
Buyers Report Absence
The S&P lost over 2%, knocking out 2,045 support and returning all technicals into the red. Volume climbed as distribution. The 200-day MA is now the line on the sand for bulls.
Scrappy Day
For the S&P, each test of the 200-day MA weakens it, and we are probably getting close to the point we get a decent push down, and a move outside of the longstanding trading range which has plagued this market throughout 2015.
Markets Retain Majority Of Gains
Selling volume was lighter than yesterday, so today wasn't seen as an opportunity to sell into strength. The one index which was perhaps a little problematic for bulls was the Russell 2000.
Preliminary Breakouts?
The larger picture still holds to trading ranges, but the coiling action in the S&P suggests an upside breakout is in the making.
Markets Coiling
Markets staged a recovery after bears were unsuccessful in pushing follow through selling after a break of intraday support in morning trading.
Day Of Rest
After all the ups and downs, today was relatively calm. The picture from yesterday is more or less unchanged.
Spike Lows, But Are They Enough?
Was today's reversal another short covering rally or the basis for a swing trade low? It was a frustrating day.
Yesterday's Gains Reversed, But Not Total
The Dow has struggled in recent days, but with a spike low of 17,279 to defend there is a chance for a bounce to make a test of the 50-day MA. Technicals are firmly net negative, which is no surprise, but also oversold.
Recovery In Indices
It was a good day for indices, with the S&P rallying off its 200-day MA, and the Semiconductor Index breaking upside from its wedge.
1169 to 1184 of 1506 Posts
<<< 1 ... 72 73 74 75 76 ... 95 >>>