Stock Market Summary Thursday 20th September 2012

Posted by Stephen Sutherland on Thu, Sep 20, 2012 @ 09:42 AM
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Yesterday's market action was positive.

The Nasdaq Composite edged up 0.15% in above average volume (Point A).

Technically the US tech index acted perfectly, bullishly reversing after finding support for a third day running around the 3170 level (Point B).

The top performing index was once again the Nasdaq 100, ending the day at another 52 week high (Point C). It is always good to see the 100 taking the leaders baton and running with it and is just what you expect to see happen in a bull market.

Leading stocks action was positive.

Ideally from this point I would like to see the Nasdaq gathering its strength and joining its big brother the Nasdaq 100 in new high ground. With the Nasdaq 100 now hitting levels not seen in almost twelve years and the overhead resistance out of the way, we could really see the market start to fly.

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Topics: Stock Market Summary