Monday, December 10, 2012

Daily Market Commentary: Quiet Day

The bullish picture remained intact after another narrow range day on light volume.  The Russell 2000 continued to offer the best opportunity for bulls, trading in a tight 'flag' with good potential for a measured move higher.  Such a move would take the index back to the September high.


The Nasdaq lingers around its 200-day MA, but hasn't driven through to suggest bulls have consumed all the supply common at key moving averages.


The S&P is holding on to its 50-day MA, but today's doji offered little to either side.


Bulls to press on tomorrow?

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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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