Thursday, December 10, 2009

Stock Market Commentary: Bulls Stall Out

After yesterday's late day surge bulls managed a morning gap higher, but were unable to achieve anything more for the rest of the day. The Nasdaq was left below resistance (2,201) on a slight increase in volume - the flatlined MACD representing the loss of trend in recent days.

The Russell 2000 was unable to crack above 605 but converged 20-day and 50-day MAs held as support.

But the index to watch is the semiconductor index - how will it hold 337?

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