Thursday, October 14, 2010

Daily Market Commentary: Recovers Losses

A neutral day for the markets; a spate of buying in the last hour helped recover earlier losses. Volume, while high, was not greater than yesterday's - so no confirmed distribution.

The S&P is holding former rising channel support

($SPX)

via StockCharts.com

Same with the Dow

($INDU)

via StockCharts.com

For other indices there was little to add. Google's afterhours boost may be enough to see markets push higher and keep bulls buying.

Follow Me on Twitter

Build a Trading Strategy Business in Zignals



Dr. Declan Fallon, Senior Market Technician for Zignals.com, offers a range of stock trading strategies for global markets, also available through the latest rich internet application for finance, the Zignals MarketPortal or the Zignals Trading Strategy MarketPlace.

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 quote 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.
JOIN US TODAY - IT'S FREE!
 
f9229fcfd1b1390be00cfccc86c90349c93a4179bf4227457c