Daily Market Commentary: Mixed Bag

It was a day of contrasts. Large Cap indices got the best of the action, closing up (slightly) on higher volume accumulation.  Tech Averages did not fare so well, the Nasdaq 100 suffering worst on the day.

The S&P experienced a wide range day, stopping at its 50-day MA. Technicals clung to its bullish particulars.

But the Nasdaq was rebuffed by its 200-day MA. with the 50-day MA overhead as resistance.

The Nasdaq 100 was particularly hard hit, leaving behind a bull trap.

While the Russell 2000 escaped relative unscathed.

Bulls should still look to the Russell 2000, which continues to exhibit good bullish form, despite today's losses. Technology had a bad day, which threw a spanner in the works for those looking for support at 200-day MA. The 20-day MA is next.


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 Trading Strategy Marketplace 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 strategy and sell it in the MarketPlace to earn real cash.

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

Popular posts from this blog

Round 2 for the bearish "black" candlestick in S&P and Nasdaq

Big bearish engulfing patterns as positive start negated

Being "Right" but still losing...


Show more