Stock Market Commentary: 20-day MAs break on MACD 'buys'
Markets continued their advance as they pushed above 20-day MAs and in some cases, 50-day MAs. The Nasdaq broke through its 20-day MA on slightly lower volume than Friday, but with a MACD trigger 'buy' and OBV 'buy' trigger. The 50-day MA is only a few points overhead but with other indices breaking past 50-day MAs the odds favour the Nasdaq doing the same.
The Dow posted a MACD trigger 'buy' as leadership moves away from staid large caps to more speculative tech stocks.
The Nasdaq 100 had the distinction of a dual break of 20-day and 50-day MAs - with the MACD trigger 'buy':
The Russell 2000 cleared both its 20-day and 50-day MAs and had a MACD trigger 'buy'
The only index to struggle a little was the S&P; it barely managed a break of its 20-day MA or trigger a MACD 'buy'
So while markets enjoyed across the board strength, after three days of gains its likely we will see markets ease a little with markets looking to their 20-day MAs for support.
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The Dow posted a MACD trigger 'buy' as leadership moves away from staid large caps to more speculative tech stocks.
The Nasdaq 100 had the distinction of a dual break of 20-day and 50-day MAs - with the MACD trigger 'buy':
The Russell 2000 cleared both its 20-day and 50-day MAs and had a MACD trigger 'buy'
The only index to struggle a little was the S&P; it barely managed a break of its 20-day MA or trigger a MACD 'buy'
So while markets enjoyed across the board strength, after three days of gains its likely we will see markets ease a little with markets looking to their 20-day MAs for support.
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!
