Wednesday, August 26, 2009

Stock Market Commentary: Roll on September

It appears bulls don't want to get involved until they see how September starts and bears aren't prepared to sell until September starts. Volume did climb to register an accumulation day for the Nasdaq, although given the lack of movement in the market it could easily have registered as distribution. Also for the Nasdaq there is a chance for a MACD trigger 'buy', although the MACD is at risk of flat-lining here.


The S&P did sneak a MACD trigger 'buy' but little else


The same was true for the Dow as it climbed next to resistance


Labor day beckons.


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.

 
f9229fcfd1b1390be00cfccc86c90349c93a4179bf4227457c