Stock Market Commentary: New Closing Highs
Much better stuff from the indices; new highs on significantly higher volume. The Nasdaq shows it best with plenty of room to channel resistance. Since July there have been 18 accumulation days and 4 distribution days for this index. MACD also looks set for a 'buy' well above the bullish zero line.
![](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_upU-c6mklNWbMaQc7uVBo7rbIB2lvbUQwXqc7xgxsLW80Zhu1dq9di9kSjEsh6k1l88iGCZ1W6_pdw3T1FqJVW_ej0EmHveKjWInq_pVyCPmLLXzVUfWWDep54mH0nZpjZ_RUcnLCsCDY=s0-d)
The other key strong performer was the Semiconductor index. It had already secured a higher high yesterday (along with a new MACD trigger 'buy' above the bullish zero line) and looks set to break what was a potential resistance level from the bearish wedge.
![](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_v0lp3Xor3aNpYQO23m-9dDzFxQmcCfqmXKSix0KN3Rcs1awIvo_ykJ5Pyf10x3aeO8ztQtY6x5f7fjAxIJjtZU-VQEqFqpu_SI6W9FNKcz2Deqk76FMRaElU1kOjCedSiS3RtJ5hwDebLwv6N0GVD2=s0-d)
So much for seasonal weakness - but September isn't over yet.
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.
The other key strong performer was the Semiconductor index. It had already secured a higher high yesterday (along with a new MACD trigger 'buy' above the bullish zero line) and looks set to break what was a potential resistance level from the bearish wedge.
So much for seasonal weakness - but September isn't over yet.
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.