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Minor Changes for Stock Market

While my invest4success picks saw some changes, the larger picture didn’t change a whole lot.

 

By Dr. Declan Fallon

The biggest gain was from the Dow Industrials(NYSEARCA:DIA). While the gain was nothing to write home about it was the only index to register a gain.  Volume was lighter but technicals are net bullish. If there was a downside, it’s that relative performance needs a pick up to run alongside index gains. The S&P (NYSEARCA:SPY)didn’t change a whole lot so haven’t feature it.



Small Caps tagged converged 20-day and 50-day MA in a small loss. This has set itself out as a successful support test, but no further losses can be taken for this to remain a successful support test.

The Nasdaq (NYSEARCA:QQQ) barely acknowledged a gain (or a loss) and technicals didn’t change a whole. There was a MACD trigger a ‘sell’, but it has effectively flat-lined before this so one cannot read a whole lot into this.

Semiconductors didn’t flash a bearish evening shooting star, so the gap higher has a greater chance of sticking (bullish)

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So, for tomorrow, we will want markets to hold what support they have, but ideally bulls will want a 1% gain to push markets beyond the minor gains registered today.