Wang’s Happy Trading

Markets jumped today, especially the techs!! BTK bounced back above 780 and SOX closed above 505! These two sectors (biotechs and semiconductors) certainly helped Nasdaq with its 31+ point gain today!! SPX wasn’t too shabby either, closing above 1500. OIH also came back and added 3+ points.

NKE was “featured” on Wang’s World last night with its first-ever embedded video (I was excited to finally be able to do video clips on my blog)! It jumped 8.31% today, a lot more than what it did in the AH yesterday. I think this can go higher, although you might want to wait a day or two if you’re not in already. So, keep an eye on it.

SPX

SPX closed at 1506.34. Its daily MAs are still bunched up. It’s still in a neutral gear with, perhaps now, a little more bullish flavor. It still needs to get above 1540 to get out this trading range.

Nasdaq

Nasdaq jumped above its daily MAs today and closed at 2605.35. It looks more and more like the big boys are cashing out on the rich commodities and rotating funds into techs!

BTK

BTK closed at 781.76 and finally got some upwards momentum going. It still needs to get above 805 to get above its daily MAs!

SOX

SOX did well today, closing at 506.77. Its daily MAs now are in the bullish formation with 10- above 20- above the 30-day MA. The MACD is going up again. Maybe this time, it will have enough momentum to catch its upper BB and ride it higher!

Well, tomorrow we get the FOMC meeting results, so let’s stay composed and poised. If the Feds play nice, we should see more buying. Let’s see what happens!

Good night and HappyTrading! ™