Thursday, January 21, 2021

Minor losses for Small Caps offset by small gains for Large Caps

No great change for indices again. There could be an argument for a possible acceleration in the bullish trend for Large Caps and Tech Indices, but its not exactly convincing. On a positive front, technicals are in good shape across all indices.

The Nasdaq is in the process of building a relative performance advantage against Small Caps by the acceleration in the bullish trend.

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Tuesday, January 19, 2021

Bullish Trend Continues

What Friday took away, Tuesday gives back. The modest trend which was established in November remains in play. No index challenged its most recent swing high, so really there was no net change in the overall picture for indices.

The Nasdaq ($COMPQ) is still holding to its MACD trigger 'sell', but other technicals are net positive.

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Sunday, January 17, 2021

Friday losses were small but will likely lead to support tests

We have a couple of indices likely in the process of testing rising support trendlines. The Nasdaq is running along a support trendline which also closely maps the 20-day MA. 

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Wednesday, January 13, 2021

Gains in Tech and Large Caps don't yet challenge prior swing highs

There wasn't a whole lot to today's action. Small gains in the Nasdaq and S&P were unable to return a challenge on the prior swing high, while yesterday's new high in the Russell 2000 saw a minor loss. 

Buying volume for the Nasdaq was lighter than normal and there was already a 'sell' trigger in the MACD. In addition, relative performance remained poor.

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