Declan Fallon | TalkMarkets | Page 59
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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Market Pause
Markets took minor hits, but there was little intraday spread. The biggest spread was in the Russell 2000 which was underperforming heading into today's session.
Semiconductors Have Best Of Day's Action - Tuesday, February 21
The long weekend didn't give bulls reason to pause. Instead, it was gains all around. The biggest winner was the Semiconductor Index as it logged nearly double other indices gains.
Nasdaq Piles On The Gains
It was another week of strong gains for the market, but it was the Nasdaq 100 which has really shone since the start of the year. The Nasdaq 100 now sits 11.8% above its 200-day MA, with all technicals firmly in the green.
Another Strong Finish For Markets: Russell 2000 Breakout
Best of the action came in the Russell 2000, which has traded sideways since the start of December.
S&P Holds Breakout As Tech Indices Near All-Time Highs
Aside from the light volume it was a solid finish to the week for indices. Tech Indices are very close to new all-time highs as the post-Trump rally continued its unabated ascent.
Bulls Struggle On Volume
There wasn't a whole lot of action in terms of price movement, but what action there was came on heavier volume and reflected a lack of buyer strength as they struggled to challenge last week's highs.
Markets Sell-Off But Recover Into Close
Trump kicked off the week with some market turmoil, but market participants still seem to consider his presence good rather than bad for the market. The only exception was the Russell 2000, which sold off and stayed sold off.
Markets FInish Week Maintaining Breakouts
Friday's action was relatively muted, but really it was all about holding the breakouts generated earlier in the week. While low unemployment suggests the economy is running close to maximum, it's hard to see when this Trump rally will end.
Market Breather
After two days of gain delivering broad breakouts, today saw markets stall a little as those gains were digested. Despite this, the S&P was still able to offer a MACD trigger 'buy'.
Markets Add To Breakouts
Another good day for indices as Dow breaks resistance to follow the lead of the S&P and Nasdaq yesterday. The Dow also delivered a MACD trigger 'buy' and +DI/-DI crossover on higher volume accumulation.
Markets Breakout - Tuesday, January 24
After yesterday saw the Russell 2000 finally switch to a net bearish turn in technicals, today saw markets move sharply higher. This generated breakouts for Tech and Large Cap indices.
Russell 2000 Turns Net Bearish Technically
The Russell 2000 was the only one index to mark a technical change with a net bearish switch in technicals (MACD, Slow Stochastics, On-Balance-Volume).
No Major Change
Trump's inauguration looks to have kept traders distracted as markets experienced a relatively quiet Friday, despite some higher volume trading. The S&P experienced higher volume accumulation but was unable to get past 2,275.
Small Cap Losses Accelerate
Small caps again took the brunt of the selling as shorts took advantage of yesterday's small rally back to former support (turned resistance) to enter positions.
Minor Day For Markets
No need to say much for today as very little happened in the market. The Russell 2000 attempted to undo yesterday's breakdown, but hadn't recovered enough by end of day to negate it
Russell 2000 Breaks Lower
In the end, it was Theresa May and not Trump which saw the Russell 2000 cut through support and confirm the earlier 'bull trap'.
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