Thursday, September 16, 2021

Indices attempt support rally

Markets aren't exactly powering higher but there is an attempt to develop some form of swing low.  The Nasdaq has the clearest opportunity. The last couple of 'white' candlesticks have developed at 20-day MA - well above closest (breakout) support. Add to that, we have 'sell' triggers in the ADX and MACD, offset by On-Balance-Volume and strong momentum from Stochastics. I'm liking the action even if trading volume could be a little higher.



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Tuesday, September 14, 2021

Russell 2000 attempts to stall the decline as indices find support.

A mixed bag for the indices as it was left to the Russell 2000 to try and extract some positives on the day.

The Russell 2000 closed the day with a bullish hammer on support of the 20-day and 50-day MAs.  The 'hammer' almost game in as a dragonfly doji or indeed, a bullish harami cross. Again, we have to factor that this action come in the middle of a trading range, so it may turn out to be nothing more than noise.  Today's gain wasn't enough to stop a MACD trigger 'sell'.



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Thursday, September 09, 2021

S&P loses accelerate as Dow Industrials confirms 'bull trap'.

We are starting to see a pick up in Large Caps loses as the bearish wedge in the S&P continues its move towards its ultimate resolution.  The index now finds itself at its 20-day MA with 'sell' triggers in the MACD and On-Balance-Volume.  Expectation is an undercut down to wedge support


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Tuesday, September 07, 2021

Flat-line Day for Markets

Most of the attention will have been on cryptocurrencies today, but for markets, it was another dull day.  The S&P barely moved the needle as it continued its snail-paced ascent. It's weekly MACD has effectively flat-lined with only its accumulation trend in On-Balance-Volume showing signs of bullish life. 


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