Stock Market Summary Tuesday 18th September 2012

Posted by Stephen Sutherland on Tue, Sep 18, 2012 @ 10:18 AM
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Yesterday's market action was positive.

The Nasdaq Composite pulled back 0.17% in below average volume (Point A).

It was classic healthy behaviour after four up days on increasing volume the market needed time to rest and catch its breath. Tame trading levels indicate institutional investors were sitting on their hands and reluctant to sell stock.

Although most of the market indexes lost ground it was good to see the Nasdaq 100 reversing the trend and ending the day in the black after bullishly reversing off it's lows (Point B).

Leading stocks action was positive.

Yesterday may have been a healthy pullback however if the market does pullback further from this point I would like to see the big players stepping up to the mark and buying stock around the 3134 level on the Nasdaq (Point C) and the 472 level on the S&P 600 (Point D).

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Topics: Stock Market Summary