Tuesday, March 16, 2010

Stock Market Commentary: S&P Breaks

Shorts which took the jump at 1,150 in the S&P were forced to cover as the index pushed towards 1,160. Volume climbed to register an accumulation day although in relative terms volume was not excessive.


The push higher in the S&P was enough to keep the rallies in the Nasdaq


And Russell 2000 intact






Have a semiconductors broken triangle resistance, or is it simply a need to readjust resistance?


I wouldn't be surprised to see some follow through upside as shorts are forced to reposition themselves.


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