Stock Market Commentary for Tuesday, March 15, 2005

The market flopped around on Monday trying to find its feet, and did actually bounce a little, but not with any real conviction. Sensing weak momentum, traders tried too hard to push the market down and it simply popped back up in their faces, with a moderate gain of 9.44 points for Nasdaq. There was nothing significant going on, simply day trading and speculators focusing on technical indicators. The good news is that Nasdaq bounced back so nicely. The bad news was that trading volume was far too light for this mini-rally to mean very much.

The weakness of the bounce is a moderate yellow flag.

The Nasdaq 2,040 level seems to be offering a reasonable level of technical support.

Nasdaq trading volume was light (1.73 billion shares), and breadth was modestly positive, with 1.14 gainers for each loser. This was a very quiet day.

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-- Jack Krupansky