Wednesday, February 10, 2010

Stock Market Commentary: Break Tease!

Tuesday's action looked to have given the bulls the impetus needed to firm Friday's reversal as a reversal, instead we got an inside day. Inside days build tension and suggest a big reaction to follow - which bulls hope will be higher.


Is there a case for a channel breakout in the Nasdaq 100?


The semiconductor index - which broke resistance yesterday - maintained its channel breakout with a second doji


What today's action allows is for a tighter stop on the opposite side of the direction of the break (using today's high/low range).


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