Daily Market Commentary: Small Caps Advance
($RUT)
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Large Caps had their time in the sun too. The S&P saw its technicals turn net bullish on higher volume accumulation.
($SPX)
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While the Dow finished shy of a push to a new 2011 high.
($INDU)
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The Nasdaq or Nasdaq 100 have yet to enjoy the same strength as the aforementioned indices. Both remain technically net bearish.
($COMPQ)
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So it looks to be up to the Russell 2000 to drive this rally higher. Tech has been a disappointment, but is at least heading in the right direction. Defensive large caps have an opportunity tomorrow to break 2011 resistance, although overall volume has been disappointing (despite being higher). Bulls in control.
Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com. I offer a range of stock trading strategies for global markets which can be Previewed for Free with delayed trade signals. You can also view the top-10 best trading strategies for the US, UK, Europe and Rest-of-the-World in the Zignals Trading Strategy Leaderboard. The Leaderboard also supports advanced search capability so you can tailor your strategies to suit your individual requirements.
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