Wednesday, December 16, 2009

Stock Market Commentary: Breakouts Stall

Tuesday was about questioning the validity of the breakouts. Today left that question unanswered. There is still the lingering issue of churn at resistance; the Nasdaq 100 demonstrated this best as it has yet to manage a resistance break:


But the Russell 2000 continued its bullish push


With the best news for bulls coming from the upside follow through in the semiconductors:


While markets look weak there is still enough juice to suggest the broader markets can go higher.

I have underestimated this market for too long to know otherwise!


Dr. Declan Fallon, Senior Market Technician, Zignals.com. 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.

 
f9229fcfd1b1390be00cfccc86c90349c93a4179bf4227457c