Daily Market Commentary: Higher Volume Accumulation
Bulls were able to keep the party going as yesterday's consolidation gave way to a day of buying. Volume climbed in confirmed accumulation for all key indices.
However, gains in the S&P didn't slow the relative swing form Large Caps to Small Caps (Russell 2000).
Or Tech Stocks
Although there is a fine balance between demand for Tech and Small Cap stocks - which in itself reflects good diversification in money flow to the markets.
Today's action reflects a continuation of the rally kicked off in October and confirmed in December. The Nasdaq 100 is already trading at all-time highs and it looks like the Nasdaq will soon be following suit. On a weekly time frame, gains for Tech indices have the appearance of base breakouts and may suggest an overall lengthening of the bull market, perhaps to last through 2012.
There is little on offer for bears. While the rally may encourage profit taking, there is little on offer to suggest going short is an option.
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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 Trading Strategy Marketplace Leaderboard. The Leaderboard also supports advanced search capability so you can tailor your strategies to suit your individual requirements.
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However, gains in the S&P didn't slow the relative swing form Large Caps to Small Caps (Russell 2000).
Or Tech Stocks
Although there is a fine balance between demand for Tech and Small Cap stocks - which in itself reflects good diversification in money flow to the markets.
Today's action reflects a continuation of the rally kicked off in October and confirmed in December. The Nasdaq 100 is already trading at all-time highs and it looks like the Nasdaq will soon be following suit. On a weekly time frame, gains for Tech indices have the appearance of base breakouts and may suggest an overall lengthening of the bull market, perhaps to last through 2012.
There is little on offer for bears. While the rally may encourage profit taking, there is little on offer to suggest going short is an option.
--------
Follow Me on Twitter
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 Trading Strategy Marketplace Leaderboard. The Leaderboard also supports advanced search capability so you can tailor your strategies to suit your individual requirements.
Zignals offers a full suite of FREE 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 strategy and sell it in the MarketPlace to earn real cash.
You can read what others are saying about Zignals on Investimonials.com.
JOIN ZIGNALS TODAY - IT'S FREE!
