Daily Market Commentary: Dow Advances and Semiconductors Stall
The Dow pushed higher for a third day in a row, taking it well beyond 12,400 support. ($INDU) via StockCharts.com The gains in the Dow helped pull the S&P higher ($SPX) via StockCharts.com And even the Russell 2000 ($RUT) via StockCharts.com Although the Nasdaq 100 finished with an inside day at breakout support. ($NDX) via StockCharts.com Likewise the semiconductor index also closed lower with an inside day. ($SOX) via StockCharts.com For Friday, the inside days of the semiconductor index and Nasdaq 100 offer the best trading opportunity. The Nasdaq 100 might offer the better prospect given it is lying at support; a loss of support and it's a bull trap (with a stop on a close above the 2-day high), while a gain defines the risk on a break of Thursday's low. 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 Preview