Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Daily U.S. Market Commentary: Two Days Of Gains

ByDeclan Fallon
Published 07/15/2013, 02:36 AM
Updated 07/09/2023, 06:31 AM

Technology caught up with small caps as the rubber band of relative strength swung back to the Nasdaq. However, the Russell 2000 didn't disappoint with its seventh straight day of gains. The index is just 14 points away from its measured move target.
RUT
It has also cleared its rising channel on the weekly timeframe.
RUT
The Nasdaq is fast approaching the measured move target of 3,680. The 20-day and 50-day MAs are about to 'Golden Cross' in what was an apparent whipsaw 'Death Cross'.
COMPQ
The big winner was the Semiconductor index as it negated the Bearish Engulfing pattern. The index is firing on all bullish cylinders, bringing with it a new measured move target of 520.
SOX
Strength in the Nasdaq was helped by new highs in Breadth metrics: Percentage of Nasdaq Stocks above 200-day MA and Bullish Percents. Plus, there was a new swing high for the Percentage of Nasdaq Stocks above the 50-day MA. However, the Nasdaq Summation Index stays on course to test highs.
SOX 2
While the S&P 500 marked a new weekly closing high, re-engaging the rally.
SPX
Friday's close was enough to kick off the next phase on the rally on weekly time-frames. This will strengthen the trend on the daily timeframes, keeping long positions favoured with buys on pullbacks. There is little on offer for Shorts unless new breakouts 'bull trap'.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.