Stock Market Commentary: MACD 'Sell' For S&P

Following the weakness which has emerged in Tech and Small Caps, the S&P followed suit with a MACD trigger 'sell'. The index closed with a neutral spinning top which held on to channel support.

The Nasdaq is approaching rising support too; Wednesday's mini-Shooting Star played on by confirmed distribution

With the Nasdaq 100 joining the 'sell' side

Looking for more of the same Thursday.

Stock Breakouts

Eighteen stocks qualified for my scan but looking through the charts didn't return much:

ATSG gained 44% to gap through 20-day, 50-day and 200-day MAs but would need to stabilise above $2.80 to have merit, closed the day at $3.35.

IMMR gapped and closed bang-on psychological $5.00 support. The MACD regained the bullish zero line after a 'buy' trigger.

The much maligned OSTK surged off 200-day MA support but couldn't maintain all of its gains by the close; $15.00 support is the key area to watch, it closed the day at $16.23.

Follow Me on Twitter

Build a Trading Strategy in Zignals; Read how and earn real money (once out of Beta) in this PDF.

Dr. Declan Fallon, Senior Market Technician for, offers a range of stock trading strategies for global markets under the user id: ‘Fallond’, ‘ETFTrader’ and ‘Z_Strategy’ available through the latest rich internet application for finance, the Zignals Dashboard or the Zignals Trading Strategy MarketPlace.

Zignals offers a full suite of financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active stock screener with fundamental trading strategy support and trading system builder. Forex, precious metal and energy commodities too. Build your own trading system and sell your trading strategy in our MarketPlace to earn real cash. Read what others are saying about Zignals on


Popular posts from this blog

Round 2 for the bearish "black" candlestick in S&P and Nasdaq

Big bearish engulfing patterns as positive start negated

Being "Right" but still losing...


Show more