Thursday, March 12, 2009

Stock Market Commentary: MACD buys all around

Another big gain on higher volume registered an accumulation day for tech averages. The Nasdaq closed over the 20-day MA and has the 50-day MA in range. The Nasdaq 100 just closed shy of its 50-day MA.

Again, the semiconductors contributed having already cleared their 50-day MA. Note, all supporting technicals are net positive; next up is the consolidation triangle.

And as the title suggests, MACDs of the Nasdaq, Nasdaq 100, Dow, S&P and Russell 2000 are all on 'buy' signals.

Dr. Declan Fallon, Senior Market Technician, the free stock alerts, market alerts and stock charts website