Daily Market Commentary: Nothing Changes

After Friday's modest push higher, Mondays' gains were barely audible. The S&P closed with a small doji - a possible shooting star - but nothing too convincing.


via StockCharts.com

The Nasdaq closed with a bearish cloud cover on higher volume distribution. Support at 2,579 carries greater weight than today's suggestive bearish turn.


via StockCharts.com

The semiconductor index is holding to channel resistance and is looking towards the 20-day MA and/or lower channel support.


via StockCharts.com

As for tomorrow, look for more of the same with bulls keeping control (with the possible exception of the semiconductor index).

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