Tuesday, November 03, 2009

Stock Market Commentary: Bulls need more

Disappointing day after yesterday's set up promised more. Volume was lighter and if it stays like this over the next couple of days it will favor the bears.

The Dow stuck to its 50-day MA but technicals turned net negative

The Russell 2000 enjoyed a decent 1.5% gain but closed a good percentage point away from resistance

Tomorrow is another opportunity, but this time it feels like bulls are holding out for lower prices.

Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade to the site on the course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance, the Zignals Dashboard. Zignals now has new fundamental stock alerts, stock charts for Indian, Australian, Frankfurt and soon Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active fundamental system stock screener and trading system builder. New Forex and Index data.