Wednesday, June 17, 2009

Stock Market Commentary: Indecision

Heavy volume saw the day swing from bear to bull and eventually close neutral. There was no change technically or significant shift in support/resistance. The Nasdaq maintained 20-day MA support and has an opportunity to bounce:


The Russell 2000 held rising support but is trapped between 200-day and 20-day MAs.


While the semiconductors posted a clear 'spinning top' as 50-day MA support was tested


Will tomorrow see bears take another crack at things?

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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