Stock Market Commentary: Pressuring Resistance

Whether the markets evolve into a form of broadening pattern, or play to a sideways consolidation, there is a growing pressure to push prices higher. The Nasdaq and Nasdaq 100 closed with doji, but the semiconductor index posted a 2.2% gain to finish above its 20-day MA; lowering the risk the Nasdaq and Nasdaq were to follow suit after the semiconductor moving average loss.


Other indices did little. The S&P is close to a MACD trigger 'sell', but other technicals are firm.


Volume was lighter, ranking Thursday as a consolidation. Will Friday see a flourish to end the week?

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.

Popular posts from this blog

Upcoming "Death Cross" for Russell 2000 ($IWM)

Friday's gap downs bring indices close to support. Semiconductor Index at 200-day MA.

"Dead Cat" Bounce or Something Better?

Archive

Show more