Strong Post-Holiday Finish
S&Ps sees strong dealer buying into the close of a post-holiday shortened session. S&Ps trading at 990.75, in a very impressive session but with low volume.
The clue will be if the rally can be sustained next week. As we mentioned in the Morning Meeting, the test for the upside would be whether we could the gap-higher opening.
Nasdaq ended the session aroun 1063 on impressive buying in the equities. Earlier, Nasdaq matched the high print of the week at 1055, but managed to trade to higher levels as the session came to a close.
For more information on the Morning Meeting, please see: