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Stock Market Commentary: Lingers at Friday’s Highs

By Chart School
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Stock Market Commentary: Lingers at Friday’s Highs

Courtesy of Fallond Stock Picks

Very little change other than a successful defense of Friday’s highs. For the S&P there was a flattening of the MACD but other technicals were able to inch higher

$SPX

via StockCharts.com

The Nasdaq had its third day of lower volume gains, but it wasn’t enough to reverse the MACD trigger ‘sell’

$COMPQ

via StockCharts.com

The semiconductor index made a better fist of it, but the gap breakout closed with a bearish shooting star as the MACD rolls a top. 

$SOX

via StockCharts.com

What can tomorrow offer? Three days of ever lower volume gains suggests there will not be a fourth.  

 

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Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

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