Monday, March 30, 2009

Stock Market Commentary: Light Volume Selling

Sizable gaps down on Automaker worries came on light volume a bullish sign. Large caps suffered slightly heavier volume selling because of GM but given their recent volume history it was hardly excessive.

There was a shift in relative strength with small caps underpeforming against Tech indices but holding their edge over large caps {Tech > Small caps > Large caps}. Resistance remained in play for the Russell 2000; a 'sell' trigger also crept in for its CCI

All of this looks like the start of the buying pullback.

Dr. Declan Fallon, Senior Market Technician, the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.