The indices had another solid up-session, although they came way off their highs in the last hour after the FOMC announcement?s brief spike-up rally. The day started out with a gap up. They motored strongly all morning, backed and filled mid-day but held support, and then came on after the FOMC meeting, spiked up to 1398 on the Nasdaq 100 and up to 882 on the S&P 500, right near our overhead resistance levels, and then came down in a sharp 5-wave decline in the last hour, bouncing in the last 5 minutes to take back some of the losses. Net on the day the Dow was up 168.78 to 8185.73, the S&P 500 up 18.48 at 873.64, and the Nasdaq 100 up 20.46 at 1382.50. The Philadelphia Semiconductor Index (SOXX) was up 4.88 to 251.55. The technicals were the story today and[More...]

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Today’s 3% market plunge wrecked havoc on the otherwise bullish conditions of the broader US Indexes.  Oil rose drastically, and other commodities benefited as the Dollar Index fell as well.The Russell 2000 and the NASDAQ are still above or testing their rising daily key moving averages, but the Dow is well beneath these key zones, and poised to head lower.The Russell 2000 is still the relative strength leader, and stands just above its key rising 20 period moving average, but bulls lost ground above the rising 200 period moving average, carving out a potential... [More...]

For those of us who mainly follow the “Big Three” US Stock Market Indexes, you might be surprised to find that the Russell 2000 - Small Cap Index - has outperformed the S&P and Dow Jones, and is closer in recent performance to the NASDAQ. [More...]

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