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Stock Market Commentary: Breakouts Fail
2009-12-18 14:37:00 Markets broke out - tettered - then break down as attempted pushes to new highs reversed markets back into their prior ranges; the bad news for bulls is failed breakouts typically travel in the opposite direction very quickly. The Nasdaq is hanging on to its 20-day MA with channel support and the 50-day MA nearby to lend a hand; but if the latter break then it will be a smart run to the exits. Large Caps are looking more vulnerable; Dow has already lost 20-day MA support and hasn't yet made a test of its lower channel.Small Caps haven't entirely given up the ghost - but the breakout is looking very shakey. Converged 20-day and 50-day MAs will be important to hold. Semiconductors are also doing their bit to keep bullish momentum rolling. But it's hard to be optimistic for the S&P; there is a huge void down to the 200-day MA. What will Friday bring?Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the... More About: Commentary , Stock Market , Market , Stock
Stock Market Commentary: Breakouts Stall
2009-12-16 23:02:00 Tuesday was about questioning the validity of the breakouts. Today left that question unanswered. There is still the lingering issue of churn at resistance; the Nasdaq 100 demonstrated this best as it has yet to manage a resistance break:But the Russell 2000 continued its bullish pushWith the best news for bulls coming from the upside follow through in the semiconductors:While markets look weak there is still enough juice to suggest the broader markets can go higher. I have underestimated this market for too long to know otherwise!Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance, the Zignals Dashboard. Zignals now has new fundamental stock alerts, stock charts for Indian, Australian, Frankfurt and soon Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active fundamental sy... More About: Commentary , Stock Market , Stock
Stock Market Commentary: Breakouts Vulnerable
2009-12-16 10:38:00 Losses in the Russell 2000 weren't enough to negate Monday's breakout, but breakouts for the Nasdaq and S&P are very much in the nip-and-tuck range as to whether their resistance breaks are still valid. For both the Nasdaq and S&P volume climbed to register a technical distribution day - a demonstration of churn at resistance. My expectations going forward from September were for a sizable correction in the Nasdaq. As we know, the Nasdaq did anything but - although the breadth indicators themselves weakened as much, and in some cases (such as the Percentage of Stock s above the 200-day MA) more than expected.September DecemberRallies can't survive without the health of the underlying components. At the moment, those components are experiencing selling stress - particularly on the long term time frame (as per 200-day MA stats). While the market may continue to favour the bulls into the end-of-year, next year will be a whole new ball game. My outlook for 2010 is for a trading range,... More About: Commentary , Stock Market , Market
Stock Market Commentary: Breakouts in Nasdaq, S&P and Russell 2000
2009-12-15 12:08:00 Markets made their first move and pushed past resistance. The breaks were relatively small (other than a more decisive trading range break for the Russell 2000) but with any movement from tight range trading there is a good chance for further quick gains. Bears will be worried because even the slightest push higher has the potential to trigger a stop-cover frenzy. The Russell 2000 made the biggest break.With the S&Pand Nasdaq closely followingWhat's more compelling for bulls is the return in leadership for speculative small caps over the more cautious large cap stocks. Maybe Santa will make an appearance after all?Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance, the Zignals Dashboard. Zignals now has new fundamental stock alerts, stock charts for Indian, Australian, Frankfurt and soon Canadian stocks, ... More About: Commentary , Stock Market , Market , Stock
Find Your Trading Strategy Today
2009-12-14 14:02:00 The new 'Advanced Search - Strategies' in the MarketPlace for Trading Strategies is now online. It works just like a stock screener, allowing you to customize the variables you wish to search for in a trading system; search by performance, number of trades, win ratio, profit factor and much much more. There is no charge to publish or subscribe to a trading system during Beta, so come give us a try - it's FREE. Looking to publish a trading strategy? Download the how-to-publish-a-trading-strategy PDF. Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance, the Zignals Dashboard. Zignals now has new fundamental stock alerts, stock charts for Indian, Australian, Frankfurt and soon Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active fundamental system stock screener and trad... More About: Strategy , Today , Find
Weekly Review of Stockcharts.com Publishers' Charts
2009-12-14 11:30:00 In a week which saw little net change, is there a chance this week will be any different (the last full week before Christmas)? Open with Richard Lehman's of Trendchannelmagic.com weekend summary:12/12 -- A week-end review of the charts shows that while the large caps continue to mark time, small caps are going up and appear ready to bounce off lower mini channel lines this week. While small caps do tend to historically outperform in Dec/Jan, this lends a more bullish view to the near term situation. A breakout of the horizontal mini channel this week by the Dow would confirm that the large caps are finally joining the party.While many are expecting a correction soon, perhaps right at the beginning of the year, a breakout by the large caps could spur another leg up, particularly if it can break the long term (3-year) declining line, which has held the index quite well thus far. Bear in mind that the small caps have already broken that line going upward and have even successfully re... More About: Publishers , Review , Charts , Weekly
Weekly Market Commentary: Support Trendline Holds
2009-12-13 22:48:00 Another week - another support hold. Certainly the rate of ascent the various markets are running is slowing, but not enough to crack the trend - yet. The S&P is very close to a MACD 'sell' trigger.The Nasdaq has got the most interesting set-up; nestled against resistance with a sub-zero MACD about to give a new 'buy' signal - one to watch next week.The Nasdaq 100 has been leading the indices in recent weeks and it too is about to give another MACD 'buy'Market Breadth is neutral and could easily go either way - so both bulls and bears could draw their own favorable conclusions as to 'what happens next?'Only the Bullish Percents are perhaps a little over-bakedWith Christmas fast approaching and recent eyes on the dollar it would like the general market is not going to see a much change. If dollar strength continues look to small caps (Russell 2000) to benefit and large caps (Dow and S&P) to suffer. Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has se... More About: Commentary , Support , Weekly
Latest Trading Jobs
2009-12-13 22:39:00 With Christmas coming here are a few treats for the weekC# / .NET DeveloperJava / C# DeveloperFinancial Advisor - Financial SalesMunicipal TraderExperienced Options Trader - ChicagoTaxable Preferred TraderProp TraderRetail Fixed Income TraderFixed Income TraderMore trading jobs here.Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance, the Zignals Dashboard. Zignals now has new fundamental stock alerts, stock charts for Indian, Australian, Frankfurt and soon Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active fundamental system stock screener and trading system builder. New Forex and Index data. Fallond Stock Picks More About: Jobs , Trading
Stock Market Commentary: Bulls Stall Out
2009-12-10 22:46:00 After yesterday's late day surge bulls managed a morning gap higher, but were unable to achieve anything more for the rest of the day. The Nasdaq was left below resistance (2,201) on a slight increase in volume - the flatlined MACD representing the loss of trend in recent days. The Russell 2000 was unable to crack above 605 but converged 20-day and 50-day MAs held as support.But the index to watch is the semiconductor index - how will it hold 337?Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance, the Zignals Dashboard. Zignals now has new fundamental stock alerts, stock charts for Indian, Australian, Frankfurt and soon Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active fundamental system stock screener and trading system builder. New Forex and Index data. Fallond Sto... More About: Commentary , Stock Market , Stock , Bulls
S&P Review
2009-12-10 22:14:00 For those who haven't bookmarked my other blog at Zignals:It has been a few months my last review of the market - so what is the state of play? In September I summarized: "Given the S&P's sharp move off of lows it would appear momentum is set to continue in favour of bulls as sideline money steps in on weakness. But look for this rate of ascent to slow as markets work off overbought conditions and MAs 'catch up' with the index. The 50-day and 200-day MAs should provide support and buying opportunities for new long positions. Stops can be placed on a decisive break (>1%) of the 200-day MA, protecting against any 1987 like outcome. But even here, the losses of 1987 did little to erase the bulk of the gains the S&P had chalked up earlier during the decade. Although pre-1950 was excluded from the dataset it would appear unlikely a major downleg will follow." You will get the rest of the article here.Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has... More About: Review
Stock Market Commentary: Bulls Take Some Defensive Action
2009-12-09 23:06:00 As bullish strength ebbed over the past few days, Wednesday saw the return of some buying. Volume was not spectacular but early weakness was replaced by late afternoon buying. In the case of the Nasdaq this buying engulfed Tuesday's indecision (doji).And buyers of the Nasdaq 100 were able to regain its 20-day MA:Better still was the breakout in the semiconductor index which came with a break in the bearish divergence in the MACD trigger line; that potential short play mentioned yesterday is not looking so likely now.Even the Russell 2000 could surprise tomorrow with a break from its trading range - the small doji is a handy risk:reward marker on the long side with a stop around 592.Things are nicely poised for bulls to take advantage - but can they do so?Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance,... More About: Commentary , Action , Stock Market , Stock
Stock Market Commentary: Resistance Remains
2009-12-08 22:25:00 It was a day when upward pressures on resistance gave way to increased selling. The Nasdaq gapped against bulls - enough to see a new MACD trigger 'sell' - but not enough to see a break of 20-day MA support. To add insult to injury there was a confirmed distribution day to boot. I have redrawn resistance at 2,201 in what looks to be a double (triple?) top.The Dow is under pressure with prices back at the lower end of its 3-week range with the 20-day MA protecting it from another 300 point drop back to its 50-day MAThe bad news for Nasdaq bulls is the loss of 20-day MA support in the Nasdaq 100. Also worrying is how prices are working closer to support than rallying up towards channel resistance. Semiconductors failed to crack 337 resistance. Note MACD up against resistance with CCI weakening; looking like a shorting opportunity with a stop above 343. It would appear bears have the better risk:reward options at this point - it's not looking like Santa has much juice in the tank. ... More About: Commentary , Stock Market , Market , Stock , Resistance
Stock Markert Commentary: Markets Pause as Semiconductors Rise
2009-12-07 22:31:00 There was very little movement in any of the key indices; markets gapped down but there was no follow through to the downside from the Nasdaq, Nasdaq 100, S&P or Dow. The semiconductor index did manage to make gains up to 337 resistance and is poised to take on a leadership role if it can break through. The Russell 2000 also sits ready to break out of a 7-week consolidation. While some 20 points away from its highs, a break will give confidence to the broader market as it will represent a shift back to speculative issues. Relative strength has seen a significant shift through December with Small caps leading Tech leading Large Caps - the most bullish alignment for markets. Should the dollar continue to outperform then expect this relationship to continue. Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance,... More About: Commentary , Markets , Stock
Weekly Review of Stockcharts.com Publishers' Charts
2009-12-07 14:21:00 Gold took a pounding and the dollar strengthed, but markets were little swayed. What will this week bring?Tony Caldaro of Objectiveelliotwave.com has posted EWT targets for S&P of 1,158 and 1,162; so is it too early to call a top? Might explain why he has not labelled in a major 'B' top for the 'ABC' correction (although had hinted at it in the past) Yong Pan of Cobrasmarketview hasn't seen too many changes on market sentiment over the week.But Monday likely to be weak (although most of the damage is done by the opening gap down)Sell signal on Call-Put data?A more bullish upside target for the S&P?Resistance for the 30-min intraday SPY; 61% for downside break if converged 21/55-period EMAs play as resistanceRichard Lehman kicks off with a new upward channel with sideways patterns elsewhere12/6 -- I added a chart on the US Dollar ( under 'D' right after the Dow charts). Could be a new move upward, but would need to break 77 to confirm that.12/5 -- The short term scene shows s... More About: Publishers , Review , Charts , Weekly
Latest Trading Jobs
2009-12-06 22:52:00 With Christmas coming things may slow down a little. Here are the jobs for this week.MSSB Market - Municipal Oddlot TraderProprietary TraderTrader AssistantEquity TraderFinancial Analyst / Assistant TraderProprietary TraderProprietary TraderFind more trading jobs hereDr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance, the Zignals Dashboard. Zignals now has new fundamental stock alerts, stock charts for Indian, Australian, Frankfurt and soon Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active fundamental system stock screener and trading system builder. New Forex and Index data. Fallond Stock Picks More About: Jobs , Trading
Weekend Market Commentary
2009-12-05 23:11:00 It finished as a bad week for gold and silver but indices held on to finish with gains. The S&P closed higher but is close to rising reaction low support with a MACD trigger 'sell' very close to occurring:The Nasdaq barely closed the week higher but it is working a recovery in its MACD.The Russell 2000 is an unusual in it has the weakest technicals but is on a charge; note the rising MACD histogram - soon there will be a 'buy' signal. This is good news for bulls looking for new market leadership (other than large caps). However, it still has converged resistance to contend with first. On the daily charts markets are caught in a trading range, but on the weekly chart markets continue to rally. Technicals are mixed for the indices, but there has been no 'sell' signals since the late March/Early April 'buy' signals. Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our ne... More About: Commentary , Weekend
Stock Market Commentary: Markets Fail To Budge
2009-12-03 22:43:00 The market appears to be waiting for bulls to make one of their typical 'in-your-face' rallies but so far no-bull has decided to turn up. The longer this impasse continues the more likely bears will take their chances and start selling into what vestiges of strength remain. The past two days in the Nasdaq illustrate this malaise as buyers refuse to take the market past bear trap highs. Very neat resistance in the S&P combined with significant distribution. However, the semiconductors continue to do their bit, although they can't do it alone.Eight weeks of stagnant action will soon see leading indices run into 6-month rally support - at that point bulls will have to make a stand if this rally is to continue. Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance, the Zignals Dashboard. Zignals now has new fu... More About: Commentary , Stock Market , Markets , Stock
Stock Market Commentary: Indecision in Primary Indices, but Breakout in Sem
2009-12-02 22:29:00 While the Nasdaq, Nasdaq 100, Dow and S&P did very little today - each closing on neutral doji on lower volume, there was something more from the semiconductor index. The SOX managed a decisive break from its declining channel and is well placed to challenge 52-week highs c337.Strength in the semiconductor index should help the lagging Nasdaq and Nasdaq 100. The Russell 2000 crept over its 50-day MA but is still contained by a trading range and has work to do if it is to challenge Sep/Oct 52-week highs. If markets are to push higher they will need to so quickly or momentum will be lost - todays' doji were such instances of stalling momentum for the leading indices. Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance, the Zignals Dashboard. Zignals now has new fundamental stock alerts, stock charts for Ind... More About: Commentary , Stock Market , Stock , Primary
Stock Market Commentary: Large Caps Going Alone
2009-12-01 23:11:00 Lots of Huff and Puff with across the board accumulation days, but only large caps look like they are going anywhere. The Dow held its breakout and the S&P is close to a new high, but other indices are losing steam. The semiconductor index was the only bright spot with its 3% gain and move above its 50-day MA. Whether it can push beyond the illustrated declining channel will become clear over the coming days. Should it manage to do so it will go a long way to pulling the Nasdaq and Nasdaq 100 out of their current rut. Sentiment has weakened once more which will add further pressure to the rally. Bullish Percents are looking the most vulnerable following the break of July reaction lows:Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance, the Zignals Dashboard. Zignals now has new fundamental stock alerts, st... More About: Commentary , Stock Market , Stock
Stock Market Commentary: Markets Hold Their Ground
2009-11-30 23:20:00 There was a chance with the return of traders that Friday's recovery would have been erased, instead buyers stepped in to protect the gains achieved following Friday's gap down. The Nasdaq closed above its 50-day MA on higher volume accumulation. The Dow held its breakout for another day but also finished with a MACD trigger 'sell'. Although the 'sell' was countered by an accumulation day. The Russell 2000 did well to recover its early day losses, but it still finished the day below its 20-day MA albeit on a bullish hammer (however - stochastics are not oversold so the candlestick as a reversal line is weak). The S&P hasn't quite had the same strength as the Dow; a MACD 'sell' and a confirmed loss of the breakout is softened by support at the 20-day MA on an accumulation day. Tuesday looks set to close a little more of Friday's breakdown gap, but then the challenge for bulls begins. Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a signific... More About: Commentary , Stock Market , Markets , Ground
Weekly Review of Stockcharts.com Publishers' Charts
2009-11-30 11:26:00 The shortened week was not short on action. What changed for the markets?Anthony Caldaro of Objectiveelliotwave.com still hasn't marked in the wave 5 top - but I suspect this trend phase has completed - as has perhaps the 'abc' correction which follows. Critical time for the S&P with 1,085 a key battleground for bulls to defend. Richard Lehman of TrendChannelMagic has a more optimistic view on things, although optimism is been neutral rather than bullish. 11/28 -- Surveying Friday's low-volume sell-off, the bears may not necessarily get the ammunition they've been looking for to go whole-hog on the short side. Oil (the commodity itself) sloped downward at an accelerated rate, but XLE remained in its existing downchannel. Financials look the weakest among sectors, but the broad indexes, including the usually fragile small caps, all held pretty much in their existing trend channels, many of which were, and still are, no worse than sideways. That's far less damage than say the F... More About: Publishers , Review , Charts , Weekly
Latest Trading Jobs
2009-11-29 22:27:00 Latest Trading Jobs for the start of December. Early Christmas present for some?AnalystBrokerStockbroker and TraineesHigh Frequent Trading UNIX/PERL/SQLQuant TradersGlobal Macro Currency TraderProp TraderStock and Commodities Broker: $30,000 and $150,000Bond Trader / FacilitatorFind more Trading Jobs HereDr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance, the Zignals Dashboard. Zignals now has new fundamental stock alerts, stock charts for Indian, Australian, Frankfurt and soon Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active fundamental system stock screener and trading system builder. New Forex and Index data. Fallond Stock Picks
Weekend Market Commentary: Fun Next Week!
2009-11-28 23:07:00 The Dubai effect won't really be known until Traders come back from their vacation. Friday's action set the tone given it bucked the traditional positive 'Black Friday'; although the gap and rally will have felt the same to some. On a weekly basis there was very little change. The only index to experience a change was the MACD trigger 'sell' in the Nasdaq 100Breadth indicators still point towards a considerable correction ahead. The Nasdaq Bullish Percents have broken technical support and are a long way from reaction low support.The Summation Index is stuck half-way between highs and lows, but is trending lower.Even the Percentage of Stocks above the 50-day MA is no longer oversold.Roll on next week...Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance, the Zignals Dashboard. Zignals now has new fund... More About: Commentary , Weekend , Week
Happy Thanksgiving!
2009-11-25 23:30:00 A non-entity of a trading day; a tight range supported by a Turkey in the oven. Friday's shortened session is likely to be higher given this tends to be the historic trend, but don't read too much into it no matter which way it spins. Penny stock traders tend to have fun on days like these. Dr. Declan Fallon, Senior Market Technician, Zignals.com. November 2009 has seen a significant upgrade and is on course to becoming the eBay of finance with our new Beta MarketPlace and a new rich internet application for finance, the Zignals Dashboard. Zignals now has new fundamental stock alerts, stock charts for Indian, Australian, Frankfurt and soon Canadian stocks, tabbed stock list watchlists, multi-currency portfolio manager, active fundamental system stock screener and trading system builder. New Forex and Index data. Fallond Stock Picks More About: Thanksgiving , Happy
Stock Market Commentary: Backtest Complete?
2009-05-20 22:53:00 The reaction move back to the highs may have completed following the late day selling and the higher volume. The Nasdaq high of 1,767 with its bearish inverse hammer was only 6 points away from the early May high of 1,773. The Dow flashed a similar bearish inverse hammer but did so with marked weakness in on-balance-volume; this was more bearish.The inverse hammer in the SOX made a picture perfect touch of resistance from former trendline support.The S&P was one of the first to mark a 'sell' trigger in on-balance-volume and it looks like this weakness is going to take the index down to its 20-day MA at the very least. Tomorrow could be a bad one....Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too. Fallond Stock Picks More About: Commentary , Stock Market , Complete
Stock Market Commentary: Semiconductors Have The Best Of It
2009-05-19 23:26:00 In what was a mixed day for the averages; slightly up for the Tech averages, slightly down for Large Cap indices. The only index to emerge with any credit was the semiconductors. In what was a stall-out at the 20-day MA yesterday gave way to a respectable breakthough today.Even with respect to relative strength, the semiconductor index started to outperform the Nasdaq 100 once more. The question is what form will this rally take? The ascent from March has broken but a new trending opportunity exists using the May low as part of a new trend from the March low. The 50-day MA becomes the best place for a trailing stop. Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too. Fallond Stock Picks More About: Commentary , Stock Market
Market Sentiment: NASDAQ support break. NYSE holds support
2009-05-19 11:19:00 The McCellan Oscillators for the Nasdaq and NYSE told two stories. The first was the confirmed break and 'sell' trigger for the Nasdaq.The same 'sell' was issued in the NYSE McClellan Oscillator but this was not confirmed with a trendline break in the NYSE. Trail those stops. So even as broad markets rally there is still an underlying shift from speculative technology stocks to the more staid Large Caps. Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too. Fallond Stock Picks More About: Break , Support , Sentiment
Stock Market Commentary: Relief Rally in Effect
2009-05-18 23:18:00 Major market gains and breaks through important moving averages had all the look of a great day for the indices but volume was very light relative to the gains. The Nasdaq was able to make it past its 20-day and 200-day MA but it remains questionable as to whether it can go on to make new highs given its weak relative performance to Large Caps. The Dow was at least able to find support at the 20-day MA and has room to maneuver to its 200-day MA. With the sector rotation to safety from speculative indices it could go on to make new highs. The SOX was unfortunate in it broke through the 200-day MA but stalled at the 20-day MA.I'm not optimistic on this rally lasting but it has been fooling everyone for a good month now and could continue to surprise. Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too. Fallond Stock Picks More About: Commentary , Stock Market , Rally
Weekly Stock Charts review from Stockcharts.com Publishers
2009-05-18 12:43:00 Markets took their turn for the worse after weeks of waiting. How will it all end? Tomas Leszczynski of Santoren Wealth Management made a great call with arc resistance: Projected target for a pullback and the chance to create a reversal head-and-shoulder pattern at November reaction lows. Presumably broad bands provide less resistance than tight bands (as was the case in June 2008). Measured move (with some wiggle room) played out on the Nasdaq?Potential for a painful fall in the QQQQs:Peter of CobrasMarketView is showing neutral short term signals but a swathe of bearish intermediate time frame signals. SPYs primed for a measured move down?Confirmed breadth weakness:Bear market reversal soon to be confirmed on weekly?'Sell' signal also in the ratio of consumer discretionary to staples:Richard Crockett of Stock Tiger is showing a Gold Miner 'sell' on the Renko chart:Dow monthly tag of 200-day EMA resistance:Simple demarcation:Anthony Caldaro of Elliot Wave Lives on is showing a ... More About: Publishers , Review , Charts , Weekly
Weekly Market Commentary: Resistance Holds
More articles from this author:2009-05-16 23:20:00 The week finished lower as resistance held for the Nasdaq (2004 reaction lows)Russell 2000 (2004 reaction lows)and Nasdaq 100 (2006 reaction lows)Breadth indicators reversed to their first down week in eight weeks; see Nasdaq Bullish Percents:Percentage of Stocks above the 50-day MAOr the Summation Index:The same was true for S&P breadth. All-in-all we have a clear weekly 'sell' signalDr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too. Fallond Stock Picks More About: Commentary , Weekly , Resistance , Holds 1, 2, 3, 4, 5, 6 |
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