Stock Market Commentary: More Indecision
It was a lackluster day for the markets with the S&P closing unchanged on the day. The Nasdaq 100 continued its run of doji; note the two bearish distribution days stuck amongst the low volume buying. The semiconductor was a little more proactive and mounted a defense at support. If Tuesday's gain can follow through it will help the Nasdaq and Nasdaq 100 Market Sentiment as measured by the Bullish Percents are showing some contradictions; new highs as part of a breakout in the indicator, but the CCI is on a 'sell' and there is a bearish shift relative to the Percentage of Nasdaq stocks above the 50-day MA. Can action in the semiconductors convert to a positive Wednesday for the Nasdaq and Nasdaq 100? Stock Breakouts There were 24 breakouts in total; four were of interest but six were low-grade penny stocks. Not much cream left to skim? Follow Me on Twitter Build a Trading Strategy in Zignals; Read how and earn real money (once out of Beta) in th