Declan Fallon | TalkMarkets | Page 2
Senior Market Technician at ActivateClients
Declan Fallon is the Senior Market Technician for ActivateClients Ltd., and Community Director for Zignals.com.  Declan Fallon runs a personal blog at markets.fallondpicks.com, is a former ...more

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Pause In Rally Maintains Friday's Gains
Friday's breakouts were small, and vulnerable to selling and 'bull traps', but today's action stayed close to Friday's highs, keeping bulls happy.
Indices To Break New Highs
There is still plenty of room to run before market breadth approaches resistance.
Nasdaq 100 Ready To Break?
All of the indices are threatening a break to new highs, but the first to do so may be the Nasdaq 100. Technicals are net bullish although it's underperforming relative to the Russell 2000, which may delay money flow into the index.
Indices Pause At Resistance
The S&P has a resistance level at 1,987 based on the July high with supply kicking in around September congestion.
Powerful Rally
An excellent day for bulls, particular for the Russell 2000. In the case of the latter index, the Small Caps Index broke declining resistance and 200-day MA in an almost a 3% gain.
Time For The Pullback?
The S&P finished with a 'bearish cloud cover,' but it did manage to hold declining resistance turned support, and the 20-day MA has entered the fray as an area for bears to work.
Has The Bounce Gone Too Far?
What this sequence of gains does is generate lots of underlying support for buyers to step in on the next selloff.
Bullish Finish For Indices
Today had the kind of action which allows bulls sleep easy: steady buying action from start 'til finish.
Bulls Work On Establishing A Market Low
Nasdaq breadth is at a stage which has marked swing lows in the past - although it hasn't reached the depths of the 2011 sell off.
Contained Buying For Indices
It wasn't the day I expected, but bulls can take some comfort it wasn't worse.
Bullish Engulfing Pattern In Russell 2000 And Semiconductor Index
While I think markets are close to a swing low, I'm not entirely sure the bottom is there yet. The wide range day and spike lows are setup for a walk-down retest of these lows over the coming weeks. However, today was a step in the right direction for a near term bounce.
Volatile Flat Day For Indices
Not surprisingly, Small Caps had the best of the action, although relative to what's gone before it was a small change, but it's making big ground relative to Tech and Large Cap indices.
Third Big Sell-Off In A Row
A stop on a loss of today's low is a relatively low risk play given the volatility.
One Step Forward, Two Steps Back
Feels like 2009 again, except markets are still above 200-day MAs, and less than 10% from the highs (except small caps). After the relative mediocrity of summer trading, things look to have been flipped on their head.
Market Bottom Or False Bottom?
There was a bit of a scramble on the release of the Fed minutes as panic buyers jumped into the market. Declan argues that most indexes haven't sold off enough to leave a strong bottom. So now what?
Bearish Follow Through
Bulls never got a look in, and worse still, indices are now challenging the recent October lows. The Russell 2000 negated the 'bear trap', pushing itself into a zone of minimal support.
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