Stock Market Commentary: Moving Average Resistance
Early attempts to follow through from Friday soon faded in weak afternoon trading. The 50-day MA played as resistance in the Nasdaq

and Nasdaq 100

Small caps encountered similar resistance, but large caps were left in limbo with reaction lows in October acting as temporary support. The pennant consolidation pattern in the Dow narrowed but has yet to break; Tuesday could see a very strong reaction. Swing trade with a stop on the reverse

Volume was lighter, so no real consensus as to what direction market participants want to move the market over the longer term; again, the tight trading typically produces strong reaction moves and this might give the market direction over the next six months.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website
and Nasdaq 100
Small caps encountered similar resistance, but large caps were left in limbo with reaction lows in October acting as temporary support. The pennant consolidation pattern in the Dow narrowed but has yet to break; Tuesday could see a very strong reaction. Swing trade with a stop on the reverse
Volume was lighter, so no real consensus as to what direction market participants want to move the market over the longer term; again, the tight trading typically produces strong reaction moves and this might give the market direction over the next six months.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website