Wednesday, April 01, 2009

Stock Market Commentary: Respectable Push Higher

I was expecting a rout but the indices ran against expected form as yesterday's bearish end-of-day finish didn't result in negative follow through. Volume was relatively light for large caps but it was better for the resurgent tech markets; another good sign.

Watch for a break of 1,286 in the Nasdaq 100 - the index should fly if it can break with the volume we have been seeing; on-balance-volume likely to breakout first.

S&P creating its own cauldron against resistance; can it take its lead from Tech indices?

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.