Daily Market Commentary: Expect Some Bullish Follow Through
Declan Fallon | May 20, 2014 12:33AM ET
Friday's late afternoon buying got some upside follow through on Monday without challenging resistance. There is a chance of further upside until it gets to such resistance.
The Nasdaq will soon be meeting the converged 50-day MA and consolidation resistance, but it's a relative gain to the S&P that will help attract new buyers. It remains to be seen if it can get through this barrier, but recent action is working in its favour (more so than the S&P).
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