Wednesday, July 01, 2009

Stock Market Commentary: Indecision

The last few days have seen some tight trading with doji or small real bodied candlesticks dominating action across the indices.

One area which saw some bullish strength was the switch in relative strength from Large Caps to Small Caps; this left markets in their most bullish relative strength alignment (Small caps > Tech > Large Caps). This could be the basis for a budding rally but June highs need to be breached soon if momentum is to be maintained.

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.