Stock Market Commentary: Recovers Losses

Bulls refuse to let go after weak Alcoa earnings had looked to set the tone. However, morning selling gave way to afternoon buying, enough to finish with slightly higher close on higher volume accumulation - the first real buying in four days.



The Nasdaq had a more positive day given it was influenced less by Alcoa. Prices continue to hug rising support as the late March MACD 'sell' gave way to a new 'buy' trigger. Accumulation day chalked up too.



Small Caps also inched higher as the rate of ascent for both 20-day MAs and 50-day MAs increased.



The VXN volatility index is getting very close to the lows of 2005 and with the bullish wedge narrowing to an apex. Why 2005 lows didn't lead to an immediate market reversal it was the start of increased volatility period which eventually pushed the market over the edge.



Can tomorrow make it five in a row? Intel looks to be doing its bit to help

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