Tuesday, February 19, 2013

Daily Market Commentary: Continues Last Week's Action

In honor of last week, markets continued their inch-by-inch gains higher. The Russell 2000 took home of the best of the days action, gaining almost 1%. The Russell 2000 also enjoyed a MACD trigger 'buy' as it built on its relative advance against the Nasdaq and S&P.


The Nasdaq also enjoyed its gain. It's more measured advance has the 20-day MA to act as support, and as long as it holds buyers are in control.


The S&P enjoys the same path as the Nasdaq, with the 20-day MA available to play as support and a place to trail stops against.


Long remains the place to be, but it's not a great time to buy.

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Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com. You can read what others are saying about Zignals on Investimonials.com.

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