Thursday, September 03, 2009

Stock Market Commentary: Modest Recovery

Markets ticked up with tomorrow's job report to come. Thursday's gains didn't break above any of the indices' 20-day MAs with the exception of the semiconductor index - although there was no technical recovery for the aforementioned index.


Volatility looks ready to pop higher having comfortably cleared its 50-day MA. Shaky times ahead for the S&P?


The monthly VIX is also showing a bullish wedge; a rocky Q4 ahead?


But the first challenge is tomorrow's job report and the post Labor day return of Traders.


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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