Monday, June 10, 2013

Daily Market Commentary: Low Volume Action

No real surprises with today's trading: narrow action on light volume.  The biggest gainer was the Russell 2000, but it remained below rising support and the swing high.


The Nasdaq finished the day flat, but it was able to close above its 20-day MA.  Should morning trading drop the index below its 20-day MA it will offer a shorting opportunity with a stop above today's high.


The S&P finished just below the 20-day MA.  As with the Nasdaq there is a shorting opportunity with a stop on today's high, which will be strengthened if the market opens down.


A gap higher above today's high would negate the shorting opportunity.

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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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