Thursday, April 23, 2009

Stock Market Commentary: Bulls Hold Out; Watch Semiconductors

It seems much of the work bulls are doing to keep this market moving higher is going to go down to what the Semiconductor Index does at the 200-day MA.

The SOX has been stubborn in maintaining 236 support and is now running close enough to its 200-day MA for it to push through. A move past the 200-day MA will help the Nasdaq and Nasdaq 100 get to, and break their 200-day MAs.

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.