Monday, August 13, 2012

Daily Market Commentary: Consolidation...Again

Slight loss on even slighter volume.  Very little going on in the market at the moment.

The Russell 2000 back tested its 20-day MA on a slight drop in technical strength.


While the Nasdaq 100 kept the pressure on resistance without breaking it.


The S&P was quiet, but unlike the Russell 2000 technicals remained firm.


Rinse-and-Repeat; short term favors a pullback from channel resistance for the Dow and Nasdaq 100.

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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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