Saturday, August 18, 2012

Weekly Market Commentary: Good Advance for Indices

It was a decent week for the indices, helped in large part by Thursday's volume advance and Friday's little top up. The overall weekly volume wasn't great, but it sets up next week for a challenge of all-time highs for many of the markets.


The S&P is already there as it managed a new closing weekly high.


The Dow is on the verge of a new high and a breakout.  Will Monday do it?


The Russell 2000 had the biggest advance on the week, but it still has the most work to do before it gets to clear resistance.


The real action won't come until September, but bulls might put on a little flourish before we get there.

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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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