Wednesday, December 19, 2012

Daily Market Commentary: Eases Away From Resistance

It was a day for relatively modest selling on light volume.  Largest selling came from the S&P, which finished yesterday against resistance.


The larger decline in the S&P translated as a relative shift in favour of Technology stocks (Nasdaq).  The selling in the Nasdaq was much milder.


The Russell 2000 finished the day flat, but since the start of December it has been the strongest index. There is a good chance there is more to come. Technicals remain strong.


Tomorrow will probably be the last we will see of volume trading before Christmas. Things still look good for bulls with today's loss relatively minor.

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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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