Daily Market Commentary: Continues Last Week's Action
In honor of last week, markets continued their inch-by-inch gains higher. The Russell 2000 took home of the best of the days action, gaining almost 1%. The Russell 2000 also enjoyed a MACD trigger 'buy' as it built on its relative advance against the Nasdaq and S&P.
The Nasdaq also enjoyed its gain. It's more measured advance has the 20-day MA to act as support, and as long as it holds buyers are in control.
The S&P enjoys the same path as the Nasdaq, with the 20-day MA available to play as support and a place to trail stops against.
Long remains the place to be, but it's not a great time to buy.
---
Follow Me on Twitter
Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com. You can read what others are saying about Zignals on Investimonials.com.
JOIN ZIGNALS TODAY - IT'S FREE!
The Nasdaq also enjoyed its gain. It's more measured advance has the 20-day MA to act as support, and as long as it holds buyers are in control.
The S&P enjoys the same path as the Nasdaq, with the 20-day MA available to play as support and a place to trail stops against.
Long remains the place to be, but it's not a great time to buy.
---
Follow Me on Twitter
Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com. You can read what others are saying about Zignals on Investimonials.com.
JOIN ZIGNALS TODAY - IT'S FREE!