sirius dog logoSIRIUS IS LOOKING UP. At least that is the way many technical traders feel about the SDARS equity of late.

The stock market has many indicators that people watch for. Gaps, volume, moving averages, candlesticks, fibs, etc. Technical trading is practiced by many, and the fact of the matter is that those that do not follow technical trading find themselves as part of the statistics that technical traders use.

For the first time in well over a year, Sirius Satellite Radio closed above the 200 day moving average. The fact of the matter is that nearly all technical indicators for Sirius are bullish. For XM, the signs are also bullish, but not to quite the same level as Sirius. However, one must note that these equities are closely tied due to the all stock format of the merger.

If you are a technical trader that is bullish, you are likely quite happy with how things are trading of late. Moving averages being toppled, good volume, clear support and resistance all seem to indicate positive momentum.

Position - Long Sirius, Long XM