Thursday, April 15, 2010

Stock Market Commentary: Pause in the Advance

No surprise to see markets take a pause after yesterday's gains. The S&P posted a fairly standard doji on heavy volume.

($SPX)

via StockCharts.com

But the Nasdaq was able to push a little higher

($COMPQ)

via StockCharts.com

And the Nasdaq 100 too, although it finished the day at channel resistance

($NDX)

via StockCharts.com

The semiconductor index finished with a bearish shooting star - perhaps the only index to finish the day with something bearish to say:

($SOX)

via StockCharts.com

Breakout gaps are the logical downside target for the next period of weakness but bulls are very much in control.

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