Monday, August 24, 2009

Stock Market Commentary: Quiet Day

Late day selling took the sting out of Monday as did the light volume. The resistance break of 2,011 in the Nasdaq is the area for bulls to defend.

The Dow finished nestled against rising channel resistance

While the Semiconductor index was the only index to post any significant reversal but the 20-day MA remains as support.

As September rolls ever closer things could get ugly but for now bulls are in full control.

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.