Wednesday, March 03, 2010

Stock Market Commentary: Doji Pair

A second day of indecision to follow the first, but todays came on lower volume. The 2-day set up continues to offer a swing trade opportunity with a trade on break of (2-day) high/lows with a stop on the flip side. The Nasdaq is a good example

However, the semiconductor index undercut its prior day's low to settle just above its 50-day MA; whether this is lead for the Nasdaq will be proven tomorrow.

While the Russell 2000 made an intraday move to new 2010 highs but finished just below resistance on a doji.

Market Internals fast approaching resistance which will be another opportunity for bears to apply pressure

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