Daily Market Commentary: Small Gains on MACD 'Buy's
($SPX)
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The Nasdaq did likewise. There was even a push into the February breakdown gap which negated what had looked to have been an April bull trap.
($COMPQ)
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The Russell 2000 had a quiet day with little technical change. A challenge on 855 is next and today's modest gain took it a little closer to this goal.
($RUT)
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The Dow took itself further away from 12,400 support. It too enjoyed a MACD trigger 'buy'
($INDU)
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Only the semiconductor index eased a little lower at 50-day MA resistance, but yesterday's breakout held.
AAAAAAAAG Semiconductor Index - Philadelphia ($SOX)
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With the wind on their backs bulls may look to push on Monday. Shorts beware.
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.
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