Stock Market Commentary: Further Gains

This will likely be the last post for 2009 as Christmas fast approaches. Markets added to yesterday's gains although large caps continued to struggle; maybe the S&P pushed a modest breakout? But volume was less than yesterday:


Of sentiment indicators, the percentage of Nasdaq stocks above the 50-day MA gained upward momentum but it still is someway from September highs:


Looks like markets want to maintain bullish momentum into the end-of-year. Unless something dramatic happens during the intervening period I don't expect much reaction until January.

Have a great rest of 2009!


Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on 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.