Tuesday, December 15, 2009

Stock Market Commentary: Breakouts in Nasdaq, S&P and Russell 2000

Markets made their first move and pushed past resistance. The breaks were relatively small (other than a more decisive trading range break for the Russell 2000) but with any movement from tight range trading there is a good chance for further quick gains. Bears will be worried because even the slightest push higher has the potential to trigger a stop-cover frenzy. The Russell 2000 made the biggest break.


With the S&P


and Nasdaq closely following


What's more compelling for bulls is the return in leadership for speculative small caps over the more cautious large cap stocks.

Maybe Santa will make an appearance after all?


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.

 
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