Monday, March 08, 2010

Stock Market Commentary: Another day of gains

It was a respectable day for bulls. No significant move in either direction and lighter volume to boot. The good news was Friday's gains held and kept momentum firmly in the bulls court.

Small Caps enjoyed six days of continuous gains but it will soon be time for a pullback - even if it ends up been a relatively modest one as it was at the end of December.

For the S&P Monday's doji is another swing trade opportunity with a stop on the flip side of the break.

There was also improvement across the intermediate time frame with the Nasdaq Bullish Percents clearing resistance

There was also a break of the last reaction high in the Summation Index

So while the short term is toppy bulls are firmly in control. I wouldn't be surprised if today's tight trading gives way to another long white candle tomorrow.

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