Monday, October 19, 2009

Stock Market Commentary: Bull comeback with little volume

It was set up for a good day for the bulls with respectable gains, but volume was lacking. The market is now well set up for some follow through and further gains will mean new 52-week highs for the indices.

The Dow is back against channel resistance with a break of the negative divergence in the MACD - this is a bullish set up for Tuesday.

Even the semiconductor index was able to dig in at its 20-day MA

Will tomorrow see more bull gains? If so - and they are going to stick - then some decent volume better go with them.

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.