Stock Market Commentary: Modest Tech Gains
Courtesy of Fallond Stock Picks
A non-event day; techs made small gains, small and large caps posted small losses. From a technical perspective there was at least a stochastic ‘buy’ for many of the indices.
The Russell 2000 remained contained by its 50-day MA
Of the market breadth indicators, the Percentage of Nasdaq Stocks above their 50-day MA marked a bottom as it crossed its 5-day MA helped by an Ultimate Oscillator ‘buy’.
Other market breadth indicators are still some way from firming a bottom but buyers are prepared to take a look here.
