Daily Market Commentary: Low Volume Action

Markets took their first step towards consolidating the recent gains. The losses were light and the volume even lighter, but there was little else to add on the day.

The S&P remained pegged to resistance despite the narrow loss.

The Nasdaq registered a technical 'distribution' day, but the volume wasn't that heavy. How will the apex pan out in the weeks ahead?

In better news, the semiconductor index added to its breakout. This will keep the Nasdaq chugging along as long as this breakout holds. 

Just to complete the set, the Russell 2000 finished at resistance.

More of the same tomorrow?

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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.

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