Daily Market Commentary: Small Caps Excel
The percentage gain was considerably smaller for Large Caps. However, there was enough of a move to register a new closing high for the S&P. Volume traded was light.
The Nasdaq gained almost a 1% and worked off its 20-day MA. But it sits outside of its former channel and faces the same challenge as the Russell 2000.
For tomorrow it could be more of the same. Rallies are intact and 20-day MAs are playing as support. While channel resistance is a factor, because it's rising resistance it's not particularly restrictive.
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.