Tuesday, December 06, 2011

Daily Market Commentary: Quiet Day

There is very little to say about today that wasn't covered yesterday. Markets were unchanged - in fact, today's narrow range may be used to enter a trade on a break of the day's high/low with a stop on the flip side. The presence of 200-day MA resistance probably gives the edge to bears - but there are 'Buts'

The S&P is a case of mixed emotion; 200-day MA resistance, but a bullish breakout from declining resistance.

Technicals are bullish for lead indices

And market breadth continues to improve

So if 200-day MAs are broken to the upside it may offer grounds for another decent step up for this rally.


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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 Trading Strategy Marketplace Leaderboard. The Leaderboard also supports advanced search capability so you can tailor your strategies to suit your individual requirements.

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