Wang’s Happy Trading

The overall market was flat today, as energy related stocks take the time to vent. The DOW and SPX both ended just a little in the red. But, the Nasdaq seem to have caught some buying attention, even though BTK and SOX are still consolidating. OIH finally let off some steam. And, GLD is looking weak again!

GLD

GLD, along with most of the metal sector, went down again today. It might need to break below 65 before coming back up.

OIH

OIH took a much needed rest today. But, it seems to me that the drillers may still have more room to go up, especially if merger news start to go off. So, let’s watch this sector closely. They might just resume upwards in the next couple of days.

SPX

SPX couldn’t hold on to the green today. But, it didn’t really lose any altitude even with the commodities mostly down. Its MACD just turned positive! It might be time to vent a little, but, I suspect that we’ll see SPX making new all-time highs soon!

Nasdaq

It seems like some buying attention is definitely shifting to the techs, as Nasdaq added on more gains today. The Internet sector continues to take the lead, while the semiconductors and the biotechs consolidate. Nasdaq is catching up with its upper BB. Let’s see if it can start riding it up tomorrow!

OMC, an advertising/marketing company, mentioned in my watchlist, just announced a 2-for-1 split. There wasn’t much apparent action after the market. So, let’s watch how OMC opens tomorrow. This split news may send OMC running again!

Good night and HappyTrading! ™