Online Stock Trading | Stocks move higher close on highs of the day

Stocks move higher close on highs of the day


Filed Under Fundamentals & Charts, Market Commentary |

A decent day of price gains for the market. It was nice to see all the indexes move higher after Monday and Tuesday distribution. We did see the NASDAQ finally show some strength relative to the S&P500. One caveat remains, volume action. Stocks can not muster volume to support today’s move. NYSE volume fell 8% while the NASDAQ volume fell be 6.5%. We’ve seen the recent uptrend broken and the indexes looking to break into a new price trend.

Check out the following charts of the NASDAQ and S&P 500:

Nazzy.png

The NASDAQ is definitely the weak index recently after being the leader of the pack since the 3/21 follow-through.

S&P500.png

S&P 500 is still trying to avoid a new downtrend.

A stock that is looking to break out from a great price structure is AMZN, check out the chart:

AMZN.png

Best of luck out there.

Aloha,

Market Speculator

marketspeculator@gmail.com

Last 5 posts in Fundamentals & Charts

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