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Article: FirstAlert(tm) Daily 10/7: New Highs Needed For Rally To Gather Steam.
- Article from:
- Investrend
- Article date:
- October 7, 2009
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Oct 07, 2009 (FinancialWire via COMTEX) -- (Comment on this article at http://www.financialwire.net/2009/10/07/firstalerttm-daily-107-new-highs-needed-for-rally-to-gather-steam/)
- Technical Commentary -
October 7, 2009 (FinancialWire) (By Dr. Joe Duarte) -- The S&P SPDR ETF (NYSE: SPY) and the Nasdaq 100 Trust (Nasdaq: QQQQ) recovered more ground on Tuesday. Yet, what's really needed for an all-clear signal is a new round of new highs and a pickup in momentum.
Short-term traders are doing fine, while investors may be quietly wading back into the stock market as fund managers try to weigh the long term potential for stocks at the moment. If you ...