Daily Market Commentary: Markets Breaks Higher

From Fallond Stock Picks
January 17, 2013 - 4:35pm

The semiconductor index had the best of the day's action, climbing 2% and taking out the September high with ease. This move wasn't entirely followed by the Nasdaq and Nasdaq 100, although a minor breakout did materialize in the Nasdaq.The S&P cleared the tight consolidation from the past few days, but the extent of the reaction wasn't as great as I thought.The Russell 2000 kept its mini-follow through rally running, but again, nothing spectacular.  Bulls will be pleased too.I don't think bulls are done, with the semiconductor index likely to continue their good form.  The Nasdaq and Nasdaq 100 should benefit from its strong performance, although they haven't - yet - gone along for the ride.---Follow Me on Twitter Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com. I offer a range of stock trading strategies for global markets which ca...


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