Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Stock Market Commentary: Bulls Take Some Defensive Action

Stock Market Commentary: Bulls Take Some Defensive Action

Courtesy of Fallond Stock Picks

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?


Tags: ,

Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!