Swing Trading Strategies & Stock Picks Since 2003

Small gains which still weren't enough to break through 50-day MA of the Nasdaq or Russell 2000; 50-day MAs of the S&P and Dow remain some distance away. Volume was slightly higher, suggesting modest accumulation - but nothing more.

Technicals of the Nasdaq Bullish Percents are all negative, supporting the idea of an intermediate top. Potential Nasdaq buyers remain best served by waiting for the 50-day MA to break.

Buyers are unwilling to get involved and this means weaker prices from lack of demand rather than active selling.