Daily Market Commentary: Narrow Range Day

Low volume and a tight intraday spread didn't change a whole lot. The built-in tension could unwind with a further push higher - particularly for an index like the S&P which is trading in the middle of its channel.


via StockCharts.com

The flatlined MACD reversed its 'sell' trigger and even managed a modest accumulation day. Watch how it behaves on selling given its proximity to channel support.


via StockCharts.com

The Nasdaq 100 finished on former channel support; is this a return to the dominant channel or just a peak in the rally?


via StockCharts.com

Although after a series of strong days the semiconductor index was quiet.


via StockCharts.com

Rally intact - even if a little dull today.

Follow Me on Twitter

Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com. I offer a range of stock trading strategies for global markets which can be Previewed for Free with delayed trade signals. You can also view the top-10 best trading strategies for the US, UK, Europe and Rest-of-the-World in the Zignals Trading Strategy Leaderboard. The Leaderboard also supports advanced search capability so you can tailor your strategies to suit your individual requirements.

Zignals offers a full suite of FREE financial services including price and fundamental stock alerts, stock charts for Indian, Australian, Frankfurt, Euronext, UK, Ireland and Canadian stocks, tabbed stock quote 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.

You can read what others are saying about Zignals on Investimonials.com.


Popular posts from this blog

Markets attempt a swing low for the seven day decline

Low volume selling after Russell 2000 breakout

Minor losses pressure Thursday's reversal attempt


Show more