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Where I post my stock market direction commentary and analysis.
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  • Stock Market Direction For Wednesday, September 14, 2011 0 comments
    Sep 14, 2011 5:01 PM | about stocks: SPY, SMH, SOX, QQQ

    Stock market direction is neutral and has been active 3 trading sessions.

    Comments: the major indexes finished higher at least 1.4% but off their highs for the session finishing mostly in the middle of the intra-day trading range.  The S&P 500 and Nasdaq Composite were unsuccessful at taking out some key support areas.  The levels are 1,199-1,204 on the S&P 500 and 2,580 on the Nasdaq Composite.  For the third session in a row Semiconductor stocks led but even they came of their session highs.  Both the support and resistance levels on the S&P 500 moved higher from 1,165 to 1,178 and 1,178 to 1,199, respectively.  The S&P 500 joined the Nasdaq Composite and now sits above its 21 day moving average.  Both indexes remain below their 50 and 200 day moving averages.  Based on the stocks I follow the market direction remains in neutral territory because volume levels did not confirm the price action.


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