Stock Market Commentary: Bulls Stall Out

After yesterday's late day surge bulls managed a morning gap higher, but were unable to achieve anything more for the rest of the day. The Nasdaq was left below resistance (2,201) on a slight increase in volume - the flatlined MACD representing the loss of trend in recent days.


The Russell 2000 was unable to crack above 605 but converged 20-day and 50-day MAs held as support.


But the index to watch is the semiconductor index - how will it hold 337?




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.