Declan Fallon | TalkMarkets | Page 2
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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Bearish Engulfing Patterns Undermine Attempts To Break 'Bull Traps'
Heading into Monday we have breakout support to consider across the lead indices. The likelihood of a loss of support is quite high but there is still plenty of support to lean on should sellers grab control.
'Bull Traps' Are Still In Play Although Today Registered Gains
Today was a bit of a mixed bag with all recording gains (good), but the Russell 2000 finished with a 'black' candlestick (close lesss than open price) that leaves bulls pressured and vulnerable to additiona losses.
Warning! Potential 'Bull Traps' Across Indices
For the Nasdaq, the 'bull trap' came with 'sell' triggers in the MACD, On-Balance-Volume, and relative performance to the S&P.
Across The Board Breakouts For Indices
The week finished on a high note, with breakouts seen in the Russell 2000, the S&P 500, and the Nasdaq. The Russell 2000 went a step further, witnessing a breakout on the weekly time frame, too. This break on the weekly time frame is critical.
Markets Respect Resistance As Gains Stall
Up to now, the Russell 2000 had been doing most of the running, marked by the relative performance gains of this index against the S&P and Nasdaq, but today was the first stall in this rally.
Russell 2000 Makes Small Gains As Part Of Three Month Base
While the Russell 2000 is not the leading index in the market it performed the best today and is building a nice base after its initial failure to break to new highs in early February.
Markets Back Inside Prior Consolidations
After the long weekend markets continued to sell off, bringing the S&P and Nasdaq back to breakout support while the Russell 2000 shaped a potential double top.
Breakdown Gaps Close For S&P And Nasdaq
The likelihood of further losses heading into next week is quite high.
Russell 2000 Fails Its Breakout, Dropping Back Into The Prior Consolidation
The Nasdaq is recovering from its gap down, although there wasn't too much technical damage from this gap.
Russell 2000 (IWM) Breakout
Friday left the Russell 2000 primed for a breakout and Monday delivered on that setup.
The Russell 2000 Is Ready To Shape Right-Hand-Side Of Base
It was another solid day on Friday for indices, with the Russell 2000 building up some nice momentum. And other indices did not disappoint.
A Day The Russell 2000 Shone
It was a real non-event for the S&P and Nasdaq, so it was left to the Russell 2000 to take up the slack.
Small Gains At 50-Day MA For Russell 2000
A bit of a non-event for the S&P and Nasdaq as both indices closed with tight doji near their highs...
The Week Closed With Strong Gains On Higher Volume Accumulation
The Nasdaq took a slightly longer route to banking its weekly gain, experiencing a weekly intraday spike low.
Bullish Hammer For Russell 2000 At 50-Day MA
It was a good finish for the Russell 2000 as the index closed the day with a bullish 'hammer' at its 50-day MA.
Day Trade In Nasdaq 100 Delivered; What Next?
It was a nice trade if you banked it for the Nasdaq 100, although all indices did well. Harder to know what may come next, but a challenge of the January 24th high looks a good prospect for the former index
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