Stock Market Commentary: Bulls Push Higher

Big points gain but no real volume in the first day back after the long weekend. The Nasdaq 100 created a Parabolic SAR buy signal as the index bounced once more off the 20-day MA.


The Russell 2000 pulled back Friday's losses but a MACD trigger 'sell' keeps bears in the game, although the index managed a new closing high.


The other point of note was the developing top in the Percentage of Nasdaq stocks above the 50-day MA; technicals weakening fast.


The trading ranges established since the last week of 2009 remain in play; 20-day MAs remain good support. All bulls need is a little more upside volume, bears need much more.


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