Wednesday, March 25, 2009

Stock Market Commentary: Positive Indecision

Early afternoon trading was pointing to a clear downward day but bulls pulled enough out of the bag to keep the technical picture net positive and put another question mark after when is the next decline to occur?

Higher volume accumulation also helped push some weakening on-balance-volume action back into positive territory.

Bulls will be looking for the indices to knock out reaction highs and build new higher reaction lows; the current rally has given the indices a good chance of doing so.

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