Monday, August 20, 2012

Daily Market Commentary: Close Near Friday's Highs

The week started quietly with indices finishing near last Friday's highs. Volume was light, in line with vacation trading.


The Nasdaq continued its impressive run technically, despite its minuscule 0.01% loss on the day.


Nasdaq sentiment picked up steam with the Percentage of Nasdaq Stocks above the 50-day MA rising above 60%.


The Russell 2000 remains nicely primed to clear 820.


Only the volatility index (VXN) gives an indication things may get a little rocky in the days ahead.


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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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