Wednesday, October 14, 2009

Stock Market Commentary: Positve Response

After two days of quiet trading markets perked up on heavier volume, closing at their highs. There was also some technical improvement with a MACD trigger 'buy' for the Nasdaq - although it continues to underperform against the S&P.

The Nasdaq 100 also enjoyed a MACD trigger 'buy' on accumulation:

The Dow is again bumping against upper channel resistance. However, any break would produce an unsustainable run given the angle.

But the rally in the S&P is looking very healthy:

With today's gains the last attempt by bears to break the run in September is now history.

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.