Tuesday, June 02, 2009

Stock Market Commentary: Anticlimax

With the exception of the semiconductors there was very little to say other than it was a low volume day. The semiconductors bucked the trend with a significant down swing. The 3%+ loss wasn't enough to reverse the breakout but it was enough to put it under serious threat.

Market Sentiment has improved over the last couple of days but not enough to bring it into net bullish ground.

I suspect Sox weakness will spread to Tech markets tomorrow and this may feedback into a breakout failure for the Semiconductors. We will know more tomorrow.

Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.