Stock Market Commentary: Bulls Take Some Defensive Action
Courtesy of Fallond Stock Picks
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?