Stock Market Commentary: More Indecision
It was a lackluster day for the markets with the S&P closing unchanged on the day.
The Nasdaq 100 continued its run of doji; note the two bearish distribution days stuck amongst the low volume buying.
The semiconductor was a little more proactive and mounted a defense at support. If Tuesday's gain can follow through it will help the Nasdaq and Nasdaq 100
Market Sentiment as measured by the Bullish Percents are showing some contradictions; new highs as part of a breakout in the indicator, but the CCI is on a 'sell' and there is a bearish shift relative to the Percentage of Nasdaq stocks above the 50-day MA.
Can action in the semiconductors convert to a positive Wednesday for the Nasdaq and Nasdaq 100?
Stock Breakouts
There were 24 breakouts in total; four were of interest but six were low-grade penny stocks. Not much cream left to skim?
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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 Zignals.com, 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 Investimonials.com.
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The Nasdaq 100 continued its run of doji; note the two bearish distribution days stuck amongst the low volume buying.
The semiconductor was a little more proactive and mounted a defense at support. If Tuesday's gain can follow through it will help the Nasdaq and Nasdaq 100
Market Sentiment as measured by the Bullish Percents are showing some contradictions; new highs as part of a breakout in the indicator, but the CCI is on a 'sell' and there is a bearish shift relative to the Percentage of Nasdaq stocks above the 50-day MA.
Can action in the semiconductors convert to a positive Wednesday for the Nasdaq and Nasdaq 100?
Stock Breakouts
There were 24 breakouts in total; four were of interest but six were low-grade penny stocks. Not much cream left to skim?
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 Zignals.com, 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 Investimonials.com.
JOIN US TODAY - IT'S FREE!
