It was a relatively good week for bulls, with breadth continuing to improve for technology indices. The indices did close near the week lows, but losses may be overstated. The Percentage of Nasdaq Stocks above the 50-day MA fell just shy of the 50% mark, but still managed to add a few points from last week. The Nasdaq Bullish Percents did scrape over the 50% mark, but it has been a very modest advance in this particular breadth index since the start of the Santa Rally. It would be good to get a but more 'oomph', but the spring/summer rally started under similar conditions, and it lasted a number of months. However, the Nasdaq Summation Index made good ground. There is little to suggest the rally is about to end anytime soon. The Nasdaq finished near the lows, but remains effectively range bound; 2,800 is support and 3,200 is resistance (with 3,100 minor resistance). On-Balance-Volume switched to a 'sell' trigger. The Russell 2000 held its breakout

Three stocks from three strong performing sectors : Mattel, Hi Tech Pharmacal, and Emerson Electric. Read more about them here . ----- 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 tradi

The selling from yesterday carried over into today, and markets worked themselves lower. However, markets took advantage of support where available. The Nasdaq clung on to its 200-day MA, despite a brief move below this key support level intraday. Volume climbed in confirmed distribution, so the respite at the 200-day MA may be brief. The S&P touched the 50-day MA at its low, but there is probably more downside to come. The Russell 2000 hasn't hit any moving average yet, and could comfortably take a third day of selling before it would. Friday probably won't offer a whole lot.  A late rally would help shore up confidence going into the weekend, but the November-December rebound could take a more substantial pullback and still be considered bullish. --- 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

The history books will show another higher close for the S&P, but today was the first day in a while sellers were able to exert some influence. Other indices didn't fare so well, all finishing lower. Small Caps suffered the heaviest selling, finishing the day with a bearish engulfing pattern. The S&P looks like it's about to offer a couple days of weakness, but there should be support at the 20-day MA, if not the 50-day MA.  Watch action at these two levels. The Russell 2000 had enjoyed the strongest advance (as measured by relative strength against the S&P) since mid-November, but this strength has also left it most exposed to potential sellers. The 50-day MA is a logical support level.  There is also a 'Golden Cross' between 200-day an 20-day MAs to look too. The Nasdaq was caught in the middle of the two extremes of Small and Large Caps. It has the 50-day MA as nearest support, with the 200-day MA next up. The key for all of these indices

This week's stock review is for AVG Technologies ($AVG) and can be found here . 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 comm

The number of blog readers has fallen in recent days as people look towards Christmas, but today gave an indication that not everyone is looking towards the holidays.  Technology enjoyed the best of the action.  The Nasdaq 100 broke above resistance on higher volume accumulation, with technicals shifting net bullish. The Russell 2000 enjoyed a solid gap higher.  The gaps today, and in November, look like measured move gaps - which reinforces the possibility for a move back to September highs. The S&P had the best of the relative trading volume, but struggled a little to put some distance to its 50-day MA. The other good news for bulls, was the continued shift in relative strength to Small Caps and Tech, and away from the safety of Large Cap stocks. The Santa Rally continues for another day... --- 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 g

The bullish picture remained intact after another narrow range day on light volume.  The Russell 2000 continued to offer the best opportunity for bulls, trading in a tight 'flag' with good potential for a measured move higher.  Such a move would take the index back to the September high. The Nasdaq lingers around its 200-day MA, but hasn't driven through to suggest bulls have consumed all the supply common at key moving averages. The S&P is holding on to its 50-day MA, but today's doji offered little to either side. Bulls to press on tomorrow? --- 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 al