Daily Market Commentary: Small Change
Today's action amounted to a bit of a non-event. Tight price action was combined with low volume. The quiet action did little to change the broader picture, or the technical health of the indices.
The only point of interest in the S&P was the increasing disparity in relative strength between the S&P and Russell 2000.
While the Nasdaq continued to pull away from the S&P as prices continued inside the rising channel.
But there was little change when the Nasdaq was compared against the Russell 2000.
Despite the lack of interest on the part of traders, bulls can still be considered to be holding court.
------
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!
The only point of interest in the S&P was the increasing disparity in relative strength between the S&P and Russell 2000.
While the Nasdaq continued to pull away from the S&P as prices continued inside the rising channel.
But there was little change when the Nasdaq was compared against the Russell 2000.
Despite the lack of interest on the part of traders, bulls can still be considered to be holding court.
------
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!
