Wednesday, March 28, 2012

Daily Market Commentary: Confirmed Distribution

Today's selling didn't result in significant point losses for the indices, but the volume was enough to rank as distribution for the S&P.

The S&P also suffered a MACD trigger 'sell' with a relative swing away from Small Caps to Large Caps (bearish).


The Nasdaq also shed 0.5%, but didn't suffer the bearish turn in indicators as for the S&P


While the Russell 2000 gave up a little more than the aforementioned indices, but did enough to retain 833 support.


In my piece on the Zignals blog I talked about the status of the S&P and its bullish outlook for the coming 12 months. So while the bulls hold short term control, it's not going to be a bad thing if indices enter a more protracted decline. However, neither of these cases are of concern for tomorrow; Thursday's challenge is holding breakout support - the Russell 2000 in particular.

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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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