Declan Fallon Blog | Talkmarkets | Page 1
Dashboard Designer for First Derviatives/KX Systems

Declan Fallon is a UI/UX Dashboard Designer for First Derivatives/Kx Systems.  Declan Fallon runs a market commentary blog at Markets.fallondpicks.com, and is a contributor to Talk Markets and Seeking Alpha. He previously ... more

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Nasdaq 100 At Resistance? Russell 2000 Pushes Against 20-Day MA
The Russell 2000 probably got the most out of today as the index closed at its 20-day MA and is now in a position to negate prior spike high tags of the latter moving average.
Russell 2000 And Semiconductors Struggle (A Little)
Weakest of the indices, the Russell 2000, maybe offering shorts a second bite of the cherry following a rebuff off the 20-day MA. Semiconductors have so far failed to challenge the February high.
Monday's Gains Consolidated
There wasn't a whole lot to add to today's action but the best thing that could be said was that yesterday's gains held.
Semiconductors At Support
The Semiconductor Index made a support test at converged 200-day MA and horizontal support of 1,295.
Russell 2000 And Semiconductors Crack
The Russell 2000 lost over 2% as it undercut the 20-day MA in a move which could pull the other indices down with it.
Intraday Action Widens As Sellers Make Appearance
The Russell 2000 reversed Friday's gain as the 200-day MA became a more substantial resistance level. Relative performance against the Nasdaq ticked lower as the index edges towards a new phase of weakness.
Markets Advance In Low Key Gains
There wasn't a whole lot to Friday's action but the main thing was an advance against the tentative weakness which shaped up last week.
Volume Selling Picks Up As Prices Hold
While sellers ticked up their activity there were enough buyers to keep prices stabilized, although supporting indicators have started to slowly roll over.
Action Remains Tight
The rally has entered its third month, although the intraday range of the daily bars remains very tight. There was some weakness today, mostly on the Russell 2000, which reversed off its 200-day MA.
Russell 2000 Tags Resistance; Nasdaq Edges Over 200-day MA
It was another day of small margins but even with this there were still important moves to consider.
Action Tightens At Resistance
It appears everyone is expecting a sell-off after such an extended gain, but nobody seems willing to initiate it. At the same time, nobody wants to buy at these levels, so markets limp along higher.
Small Gains Continue; S&P Reaches Resistance
While the S&P parked itself at resistance, the Nasdaq started to edge past its 200-day MA, while gains were small, they were probably enough to scare shorts into covering or at least hold of on attacking their 200-day MAs.
Russell 2000 Approaches 200-day MA; S&P Breaks 200-day MA
It was another day bulls chalked up a victory and indices posted gains across the board. Some indices did better than others but there is no clear weakness to work off yet.
Small Gains Keep Rally Ticking Over
Yesterday delivered small gains which kept the rally chugging along but there wasn't much to add on today's action.
Russell 2000 Adds A Little Bullish Gloss
There wasn't a whole lot to add today's action as 200-day MAs dominate near term action. The only index which offered a little kicker was the Russell 2000.
Semiconductors Kick On As Bounce Reaches Extremes
This bounce which kicked off in December has reached levels which are getting rich for many but not for the Semiconductor Index.
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