The Nasdaq enjoyed an On-Balance-Volume 'buy' trigger to go with the MACD 'buy'.
The Russell 2000 got a relative strength boost against the Nasdaq, and managed a gain against the S&P. Better stuff from speculative Small Caps, and suggests there is more to this rally than just a simple bounce.
Friday will boil down to action at 20-day MAs, but holiday trading could see these ignored in some Black Friday bargain hunting. Next Monday will give a better reflection as to how this rally is shaping up.
Have a great Thanksgiving!
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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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