Online Stock Trading | Stocks Fail to Build on Gains

Stocks Fail to Build on Gains


Filed Under Market Commentary |

Straight from the gate market participants took the opportunity to knock down stocks a level.  For the bulls, this action was quite disappointing as you would have liked to see stocks build on Wednesday’s gains on stronger volume.  The good news, stocks sold off on MUCH LIGHTER trade.  It appears the institutional buyers are continuing to stay on the sidelines.  If this market ever gets off the ground, we’ll need the institutional support to keep the market afloat.

The market continues its lateral move, we just need to keep distribution to a minimum and most importantly see big up days on massive volume.  We are seeing volume higher on the big moves higher but volume has not gotten above its 50dma.

The weather is improving here in the Northeast, praying it continues!  Let’s see if we can’t get any institutional quality buying in this market.  Futures look dismal on the NASDAQ, mostly due to the Fair Value calculation.  But, its there for a reason and would be nice to see support come in from the morning lows.

Market Speculator

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Comments

4 Responses to “Stocks Fail to Build on Gains”

  1. z-stock, ------- http://z-stock.blogspot.com/ on April 19th, 2008 5:45 am

    Hey market S
    it’s zee
    I’m trying to figure out the market top–again-I have three signals
    the dow at 13,000 = 200 day–qqqq - 48 ish = 200 day –and right now. IWM at the 38% FIb line = 72.2
    so–I have a coin toss–
    HAL ar RSI 85–is quite a short sell signal–and that could put an end to OIH–and XLE—those two have many times — topped at the same time as IWM,DOW,QQQQ
    so, anyway—the market reversal is coming—IMO–and might start as early as pre-market Monday–BAC,HAL,MRK all report–
    zee

  2. Market Speculator on April 19th, 2008 6:43 am

    zee,

    This market has leg bro! Volume is building on the upside and falling on the downside. Stocks are beginning to breakout more and more!!!!

  3. z-stock, ------- http://z-stock.blogspot.com/ on April 19th, 2008 6:09 pm

    ok thanks market S –I mis- read your post—I thought this was a low volume rally—
    I’ll move my lines up to the 200 day—signal–
    I’ll be surprised if the SPY gets above 139.2–
    but i’ll keep 142 = 200 day on the radar–

  4. Market Speculator on April 20th, 2008 12:03 pm

    ZEE

    certainly that is a resistance point, the 200dma across all indexes.

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