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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...

Paris

Paris

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IMPORTANT BLOG POST UPDATES...

Friday, August 15, 2014

Technology First

A continued rally in the equity markets is really dependent on continued leadership in Technology, as well as a recovery in Small-Caps.

The following Weekly comparison chart of the Dow 30, S&P 500, Nasdaq 100 and Russell 2000 Indices shows that, from the 2009 lows, Technology has led the overall rally, for the most part, and, particularly, since early this year when the spread has widened considerably between the NDX and the others.


The following 60-day 60-minute comparison chart of these 4 Indices shows the NDX approaching this year's high, while the RUT has the furthest to go to reach that point. I'd watch for any build in volumes in the NDX and the RUT on, either a rally, or any decline from this point...to confirm a commitment in sentiment, one way or the other.


The declining momentum indicator on the following 60-day 60-minute ratio chart of SPX:VIX is not confirming this latest rally in the SPX from August 11th.

Any low-volume push higher in the NDX and RUT, combined with weakness in the SPX may indicate a loss of appetite for equities in the near-term. Price on this ratio chart has pushed above the near-term resistance level of 150.00 (mentioned in my post of August 11th). Failure to hold this level will likely see Monday's gap-up filled. A break and hold below the 110.00 level may see a much larger-scale correction in equities begin...hence, the importance of volume commitment, either way, in the NDX and RUT.