Here are the next levels for the S&P and Nasdaq to hit
Convincing Upday
The markets had a huge start to the week and closed at the highs for the day
going away.
The day started out with a move up off of higher futures. Then they rolled over
and came down rather sharply after the first hour, but held support and moved up
steadily into the lunch hour. At that point the market went sideways and
consolidated in a three-hour flag pattern. In the last hour or the indices broke
out and ran hard into close.
The Dow was up 170, the S&P up just under 20, and the NDX up more than 25 1/2.
The SOX Index managed to advance 5 points after being down much of the morning
and early afternoon.
The technicals were very positive by better than 3 to 1 on New York and a little
less than that on Nasdaq. Total volume was a bit lower than recent sessions,
with 1.5 billion on both exchanges. Up/down volume was 4 to 1 positive on Nasdaq
and about 6 to 1 positive on New York.
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