Thursday, January 17, 2013

Daily Market Commentary: Markets Breaks Higher

The semiconductor index had the best of the day's action, climbing 2% and taking out the September high with ease. This move wasn't entirely followed by the Nasdaq and Nasdaq 100, although a minor breakout did materialize in the Nasdaq.



The S&P cleared the tight consolidation from the past few days, but the extent of the reaction wasn't as great as I thought.


The Russell 2000 kept its mini-follow through rally running, but again, nothing spectacular.  Bulls will be pleased too.


I don't think bulls are done, with the semiconductor index likely to continue their good form.  The Nasdaq and Nasdaq 100 should benefit from its strong performance, although they haven't - yet - gone along for the ride.

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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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