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Daily Market Commentary: For Today, See Yesterday (and The Day Before)

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Courtesy of Declan Fallon

Nothing has cracked yet, but eventually it will. Because of the tight action, any regular move up or down will be seen to be greater than it might otherwise look. The most likely reaction is an exhaustion run higher, which quickly turns lower, resulting in a more substantial decline. However, there are no guarantees!  

The S&P expressed another doji on higher volume accumulation.  Can the MACD swing higher? It would offer a handy boost for bulls.


The Nasdaq is on the verge of a fresh On-Balance-Volume ‘buy’ signal.

And the Russell 2000 is close to a MACD trigger ‘buy’

Can Friday bring a strong finish?

—

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Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com. You can read what others are saying about Zignals on Investimonials.com.

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