Monday, April 25, 2011

Daily Market Commentary: Semiconductors Net Bullish Technically

It was a day for low key moves. While the point changes were small, the overall picture remained buoyant.

The semiconductor index had the best of the day's action. While it didn't do enough to even post a points worth of gain, it did enough to turn net bullish technically. The breakout is holding above both declining resistance and its 50-day MA. Can it continue?

($SOX)

via StockCharts.com

The Dow changed little but did more in doing so - the critical breakout is holding. Can the S&P follow suit?

($INDU)

via StockCharts.com

The Nasdaq continued its push into the February breakdown gap. Technicals are net bullish and rising. Will it be the next index to make a new 2011 high?

($COMPQ)

via StockCharts.com

Small Caps have taken the foot off the pedal a little, but it did enough to defend its 20-day MA. Upcoming MACD trigger 'buy' in the works.

($RUT)

via StockCharts.com

The indices are nicely set for tomorrow.

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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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