Wednesday, November 18, 2009

Stock Market Commentary: Breakouts Hold

Magnificent match between Ireland and France for World Cup final, not over yet though...

Markets held their breakouts with some heavier volume at support (although the mild selling is registering as 'distribution'). You could pick and choose your indices on this; Nasdaq and S&P are good examples of the breakout support

Also good news were held breaks of 20-day and 50-day MAs for the Russell 2000 and Semiconductor index.

Aggressive traders could look to play a break of 3-day highs with a stop on loss of 2-day lows.

Dr. Declan Fallon, Senior Market Technician, November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance, the Zignals Dashboard. Zignals now has new fundamental stock alerts, stock charts for Indian, Australian, Frankfurt and soon Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active fundamental system stock screener and trading system builder. New Forex and Index data.