Weekly Market Commentary: Contradictions Continue

More of the same from last week; a downward market supported by rising long term stochastics. Volume climbed to register a distribution week; the second such week since the last accumulation week (S&P is a good example). Market Breadth indicators all showing confirmed 'Sell' signals.


The Nasdaq shows the sharp advance in long term stochastics as the index toys with weekly support around 1,759.


Small Caps weakest with long term support gone; it's now looking at late 2008 reaction lows for demand from buyers


However, Market Breadth is in no doubt - markets are in a clear 'Sell' environment


But at least Bullish Percents are approaching a relief 'Buy' signal


Stick with the trend - the trend been down.

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.