Wednesday, September 19, 2012

Daily Market Commentary: Buyers Keep Control

Another day where very little happened, but there was enough to suggest buyers have control of the market from the lack of sellers willing or able to move markets lower. There will likely be another step up for the indices given recent action.

The Nasdaq finished the day in good technical health with higher volume accumulation.


The S&P is hugging the upper channel line in tight action, off bullish technicals.


The Russell 2000 probably offers the best opportunity for bulls given its relative leadership over the Nasdaq and S&P.


A rinse and repeat of yesterday. The only exception is the weakening of the short side picture by the lack of any downside follow through today.

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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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