Another Boring Day For Markets; Russell 2000 Bull Flag?
Declan Fallon | Oct 19, 2017 12:13AM ET
There was little to suggest yesterday's action would offer anything of interest going forward. Only the Semiconductor Index managed to recover from a relatively deep intraday spike.
The Dow broke clear from rising channel resistance. This has no overhead resistance and very little natural support should price reverse from here. However, it marks an acceleration in the advance.
The S&P was a little disappointing in that it didn't really drive a breakout on a day when the Dow made its move. Technicals are good.
With the NASDAQ caught between channel support and resistance, there was little of note to report.
Likewise for the Russell 2000, although J.C. Parets makes the case for a 'bull flag '.
For today, watch the Russell 2000.
Get The News You Want
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.