Thursday, February 02, 2012

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.

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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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