Wednesday, March 11, 2009

Stock Market Commentary: Bulls pause for breath

No surprise to see bulls take a break after yesterday's hard work. 20-day MAs are slowly coming into range as potential overhead supply (the Nasdaq 100 is already there). In the Nasdaq the MACD looks to be working support off its bullish divergence.

The Dow completed a MACD trigger 'buy' but volume was well off of yesterday's.

The semiconductors are playing their leadership role with a price break of both 20-day and 50-day MAs

Can bulls press their advantage?

Dr. Declan Fallon, Senior Market Technician, the free stock alerts, market alerts and stock charts website