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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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Net Bullish Technicals For S&P And Nasdaq
The S&P is resting near its 50-day MA but there may not be sufficient wiggle room for it to be held as support. If this was to fail then next would be former channel resistance now support.
Breakouts For Russell 2000, Semiconductors And Dow Industrials
It was a bit of a mixed bag, although the basis for a probable swing low for markets is in place.
Nasdaq Suffers Heavy Selling
Rumors of antitrust probes for Facebook and Google put a weak market under further pressure. The Nasdaq took the brunt of the selling on confirmed distribution.
Declines Continue
It was yet another day bears maintained control of markets with the Russell 2000 again leading markets lower.
Russell 2000 Breaks Range Support
With all indices oversold there is the potential for a larger crash, but with the presence of the 200-day MA for the Nasdaq and S&P, the easier option may be for a bounce.
Distribution Sweeps Markets
Traders returned from the Memorial weekend in selling mood. Indices, already net bearish technically, suffered further losses on higher volume distribution.
Russell 2000 Defends Support
While the Russell 2000 trades sideways it will keep other indices in check until there is a confirmed directional turn - either a break of current support (for bears) or a rally back to, then beyond 1,615 resistance.
No Change Part 2
With Trump Trade Wars in full swing, markets were remarkably sanguine. It's still a mixed bag of bullish potential in the Russell 2000 and bearish malaise in the Semiconductor Index.
No Change As Markets Trade Within A Range
Markets made minor gains, but the action of the last few days has not managed to clear the consolidations created near the moving averages.
Indices Rebuffed At Moving Averages
Friday saw indices turned at moving averages after Thursday's tests. Volume was light so it may be a mix of profit-taking and some aggressive shorts.
Bounce Sees Markets Challenge Moving Averages
Since the Tariff sell off markets have managed to pull themselves back to the moving averages broken by that sell-off.
Technical Damage Across Markets
The to-and-fro of the US-Chinese trade war has left markets in a bit of a grey zone and facing uncertainty after holding moving average support.
Yesterday's Losses Remain Dominant
Today's action was relatively tight and held inside the range of yesterday's losses. While losses weren't great, the Russell 2000 did suffer the most of lead indices.
Russell 2000 Continues To Perform Well
The morning gap down on Chinese trade war fears was painted over by some decent buying action over the course of the day. Best of the action was reserved for the Russell 2000, which is now starting to outperform the S&P and Nasdaq.
Market Rallies Slow With Trend Breaks But Small Caps Find Support
Shorts may think they have their reversal but the last such break in March quickly reversed higher. Volume was light even though technicals weakened with MACD 'sell' triggers for key indices.
Solid Finish On Higher Volume
The S&P barely registered a gain but with the index a couple of points shy of all-time highs it can be forgiven. Volume was sufficient to register as accumulation.
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