Daily Market Commentary: Bears Caught Short
The S&P finished at its 200-day MA which may offer bears an opportunity but it is looking like dips will be viewed as buying opportunities
($SPX)
via StockCharts.com
The Nasdaq made it back above its 200-day MA; declining resistance next to negotiate.
($COMPQ)
via StockCharts.com
The Russell 2000 offered 200-day MA buyers a hefty return with an over 4% gain.
($RUT)
via StockCharts.com
With the semiconductor index nestled against declining resistance from April highs. Friday will offer a big test but odds favor an eventual break higher
($SOX)
via StockCharts.com
So with substantial gains it would be hard to see an immediate follow through with 20-day MA resistance overhead.
But bulls have found their voice.
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