Tuesday, January 19, 2010

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.


Dr. Declan Fallon, Senior Market Technician for Zignals.com, offers a range of stock trading strategies for global markets under the user id: ‘Fallond’, ‘ETFTrader’ and ‘Z_Strategy’ available through the latest rich internet application for finance, the Zignals Dashboard; many are ranked in the top-20 for 3-month and YTD performance.

Zignals offers a full suite of financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy commodities too. Build your own trading system and sell your trading strategy in our MarketPlace to earn real cash. Read what others are saying about Zignals on Investimonials.com; ranked top-20 software product out of 285 listed. Join today - it's free!

 
f9229fcfd1b1390be00cfccc86c90349c93a4179bf4227457c