{"id":16709,"date":"2018-07-21T00:23:31","date_gmt":"2018-07-21T00:23:31","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=16709"},"modified":"2018-07-21T00:23:31","modified_gmt":"2018-07-21T00:23:31","slug":"tech-stocks-and-small-caps-lead-us-advance","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/21\/tech-stocks-and-small-caps-lead-us-advance\/","title":{"rendered":"Tech stocks and small caps lead US advance"},"content":{"rendered":"<p>The S&amp;P 500 continues to test resistance at 2800. Declining Volatility suggests a return to business as usual. Breakout above 2800, with follow-through above 2820, would suggest a primary advance to 3000.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-20-spx.png?w=525&#038;ssl=1\" alt=\"S&amp;P 500\" \/><\/p>\n<p>Dow Jones Industrial Average is similarly testing resistance at 25400. Breakout would signal a fresh advance but buying pressure is modest and gains are likely to be slow.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-20-dow.png?w=525&#038;ssl=1\" alt=\"Dow Jones Industrial Average\" \/><\/p>\n<p>The Nasdaq 100 leads the charge, advancing towards a target of 7700 after respecting new support at 7000.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-20-ndx.png?w=525&#038;ssl=1\" alt=\"Nasdaq 100\" \/><\/p>\n<p>Small caps are also out-performing, with the Russell 2000 iShares ETF testing resistance at 170 after breaking out above its January high of 160.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-07-20-iwm.png?w=525&#038;ssl=1\" alt=\"Russell 2000 Small Caps\" \/><\/p>\n<p>Although this is the final stage of a bull market, there is no sign of it ending. I am wary of the impact of a trade war on individual stocks and have reduced\u00a0 <a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/02\/international-growth-portfolio\/\">International Growth portfolio<\/a> exposure to multinationals that have strong sales in China.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The S&amp;P 500 continues to test resistance at 2800. Declining Volatility suggests a return to business as usual. Breakout above 2800, with follow-through above 2820, would suggest a primary advance to 3000. Dow Jones Industrial Average is similarly testing resistance at 25400. Breakout would signal a fresh advance but buying pressure is modest and gains &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/21\/tech-stocks-and-small-caps-lead-us-advance\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Tech stocks and small caps lead US advance&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[57,34],"tags":[1113,2401,3001,3010],"class_list":["post-16709","post","type-post","status-publish","format-standard","hentry","category-stock-markets","category-us-canada-countries-regions","tag-dow-jones-industrial-average","tag-nasdaq-100","tag-russell-2000","tag-sp-500"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tech stocks and small caps lead US advance - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tech stocks and small caps lead US advance - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The S&amp;P 500 continues to test resistance at 2800. Declining Volatility suggests a return to business as usual. Breakout above 2800, with follow-through above 2820, would suggest a primary advance to 3000. Dow Jones Industrial Average is similarly testing resistance at 25400. Breakout would signal a fresh advance but buying pressure is modest and gains &hellip; Continue reading &quot;Tech stocks and small caps lead US advance&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/07\/21\/tech-stocks-and-small-caps-lead-us-advance\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-21T00:23:31+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2018-07-20-spx.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/07\\\/21\\\/tech-stocks-and-small-caps-lead-us-advance\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/07\\\/21\\\/tech-stocks-and-small-caps-lead-us-advance\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Tech stocks and small caps lead US advance\",\"datePublished\":\"2018-07-21T00:23:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/07\\\/21\\\/tech-stocks-and-small-caps-lead-us-advance\\\/\"},\"wordCount\":145,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/07\\\/21\\\/tech-stocks-and-small-caps-lead-us-advance\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2018-07-20-spx.png\",\"keywords\":[\"Dow Jones Industrial Average\",\"NASDAQ 100\",\"Russell 2000\",\"S&amp;P 500\"],\"articleSection\":[\"Stock Markets\",\"US &amp; Canada\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/07\\\/21\\\/tech-stocks-and-small-caps-lead-us-advance\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/07\\\/21\\\/tech-stocks-and-small-caps-lead-us-advance\\\/\",\"name\":\"Tech stocks and small caps lead US advance - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/07\\\/21\\\/tech-stocks-and-small-caps-lead-us-advance\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/07\\\/21\\\/tech-stocks-and-small-caps-lead-us-advance\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2018-07-20-spx.png\",\"datePublished\":\"2018-07-21T00:23:31+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/07\\\/21\\\/tech-stocks-and-small-caps-lead-us-advance\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/07\\\/21\\\/tech-stocks-and-small-caps-lead-us-advance\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/07\\\/21\\\/tech-stocks-and-small-caps-lead-us-advance\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2018-07-20-spx.png\",\"contentUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2018-07-20-spx.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2018\\\/07\\\/21\\\/tech-stocks-and-small-caps-lead-us-advance\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tech stocks and small caps lead US advance\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. 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He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-4lv","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":1336,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/10\/17\/nasdaq-hints-at-recovery\/","url_meta":{"origin":16709,"position":0},"title":"Nasdaq hints at recovery","author":"ColinTwiggs","date":"October 17, 2011","format":false,"excerpt":"Dow Jones Industrial Average is testing resistance at 11700. Breakout would warn of a primary advance, but the market is prone to false signals because of excessive volatility and it would be prudent to wait for confirmation. Respect of 11700, or a false break above 11700, would re-visit support at\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2594,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/11\/dow-nasdaq-diverge\/","url_meta":{"origin":16709,"position":1},"title":"Dow, Nasdaq diverge","author":"ColinTwiggs","date":"December 11, 2011","format":false,"excerpt":"Dow Jones Industrial Average is testing resistance at 12300. Breakout would signal a primary advance to 13400 and an end to the bear market. Rising 63-day Twiggs Momentum is encouraging but will only be significant if retracement respects the zero line. * Target calculation: 12300 + ( 12300 - 11200\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1798,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/06\/nasdaq-threatens-breakout\/","url_meta":{"origin":16709,"position":2},"title":"Nasdaq threatens breakout","author":"ColinTwiggs","date":"November 6, 2011","format":false,"excerpt":"The Dow is testing medium-term support at 11600. Failure would mean another test of primary support at 10600, while respect of support (with breakout above 12300) would confirm the primary advance to 12800*. Rising 21-day Twiggs Money Flow continues to indicate buying pressure, favoring an advance. * Target calculation: 11600\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16334,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/09\/small-caps-lead-us-recovery\/","url_meta":{"origin":16709,"position":3},"title":"Small caps lead US recovery","author":"Colin Twiggs","date":"June 9, 2018","format":false,"excerpt":"Russell 2000 Small Caps Index is leading the US recovery. The iShares Russell 2000 Small Caps ETF broke through resistance at 160, signaling a primary advance with a target of 175. According to Dow Theory, small capitalization stocks typically lead the advance in stage 3 of a bull market, with\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15213,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/04\/28\/dow-prepares-for-a-fresh-advance\/","url_meta":{"origin":16709,"position":4},"title":"Dow prepares for a fresh advance","author":"ColinTwiggs","date":"April 28, 2017","format":false,"excerpt":"Dow Jones Industrial Average is testing resistance at 21000 after a shallow correction. Rising troughs above zero on Twiggs Money Flow signal strong buying pressure. Breakout is likely and would signal a fresh advance, with an immediate target of 22000. Small Cap stocks are also advancing, with the Russell 2000\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1885,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/14\/nasdaq-fails-to-dispel-fears-of-a-bear-market\/","url_meta":{"origin":16709,"position":5},"title":"Nasdaq fails to dispel fears of a bear market","author":"ColinTwiggs","date":"November 14, 2011","format":false,"excerpt":"The Nasdaq 100 is consolidating in a narrow band below resistance at 2400 on the weekly chart, suggesting an upward breakout. Follow-through above 2450 would confirm the target of 2800*. 13-Week Twiggs Money Flow continues to signal buying pressure after an earlier bullish divergence. * Target calculation: 2400 + (\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16709","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=16709"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16709\/revisions"}],"predecessor-version":[{"id":16710,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16709\/revisions\/16710"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=16709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=16709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=16709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}