Thursday, April 16, 2009

Stock Market Commentary: Accumulation Continues

Bulls keep pushing this higher to the point January reaction highs were breached in the Nasdaq on higher volume accumulation. This could all the way to the 200-day MA before it makes its actual top.

The Dow was finally able to crack above declining resistance, although relative to Tech the move was small.

The Nasdaq 100 is making the most of the break and is close to the next point of resistance at 1,383.

It's toppy but it can get toppier!

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.