Stock Market Commentary: No Rest for Tech - Fresh Breakouts

Just as things were looking sketchy for the markets; Nasdaq, Nasdaq 100 and semiconductors (the latter in particular) drive higher. There was a healthy level of support given seasonal factors and weather likely conspired to keep volumes down. Rising price channels remain intact:

The Nasdaq 100 had a much cleaner breakout given it failed to break before as the Nasdaq did. Note new MACD trigger 'buy'.

The real winner was the semiconductor index - the earlier breakout gained some validitiy.

Even Small Caps got a little loving which kept their trading range breakout intact.

A strengthening dollar kept the lid on large cap gains and there were no breakouts for the S&P or Dow - but in the context of a rally the leadership has to come from Small Caps/Tech.

Looks like Santa has presents for some - but not all markets.

Dr. Declan Fallon, Senior Market Technician, 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.

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