Weekend Market Commentary

It finished as a bad week for gold and silver but indices held on to finish with gains. The S&P closed higher but is close to rising reaction low support with a MACD trigger 'sell' very close to occurring:

The Nasdaq barely closed the week higher but it is working a recovery in its MACD.

The Russell 2000 is an unusual in it has the weakest technicals but is on a charge; note the rising MACD histogram - soon there will be a 'buy' signal. This is good news for bulls looking for new market leadership (other than large caps). However, it still has converged resistance to contend with first.

On the daily charts markets are caught in a trading range, but on the weekly chart markets continue to rally. Technicals are mixed for the indices, but there has been no 'sell' signals since the late March/Early April 'buy' signals.

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.

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