Wednesday, June 24, 2009

Stock Market Commentary: Bulls Struggle

Inevitable after a couple days of losses was the rally. However, after a positive start, bulls started to fade into the close. Monday's heavy losses capped any push above those day's highs. Volume was light but will it be enough to facilitate a second attempt at a rally tomorrow?


The Dow was repelled at its 50-day MA.


It was the same story for other indices. At least for the Small Caps both 50-day and 200-day MAs held.


Buy expect tomorrow to see bears re-assert themselves.


Enter to win the Trader's Business Plan prize of a free psych test and free access to the trading plan development program. Retail value $398

[1] Register at Zignals.
[2] Go to Charts and select a stock (you will be prompted to download Microsoft Silverlight)
[3] Click on the YourCall Icon


[4] Enter a Call by giving a stop and target price; make sure the Time Period is set to Short (month)
[5] Enter as many calls as you like up until the end of June; these can be long or short signals
[6] Send me your Zignals Userid so I can track the calls made (declan-at-zignals.com) or post it in the comments section of this post. In your email make reference to the competition.
[7] The Zignals member with the stock giving the highest return from either a target hit or expiration after 22 trading days will win the prize. Only stocks or FX prices listed on Zignals qualify for entry (no pink sheet stocks). The announcement of the prize winner will be made at the end of July.

Good luck!


Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.

 
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