Wang’s Happy Trading

The market rallied today. The Dow gained almost +100 points! SPX added +8.21 points, and Nasdaq jumped another +15.58! This rally was actually well-distributed, in that some of the usual leaders just sort of “sat and watched”. For example, GOOG closed down 0.84 points, BIDU lost almost 12, AMZN was flat, AAPL slid 0.41, and even RIMM, with new products and a new coverage, still only went up +2 points!

Let’s see how various sectors did today:

BTK (biotechs) was strong. USO (natural gas) came back a little. Most other sectors were pretty flat. FXI (Chinese ADRs) was again among the top gainers! This is a new all-time high for FXI, closing at $176.06, with an intraday high of $178.44!

SPX

SPX bounced back above 1520 to close at 1525.42. The daily MAs are still rising nicely. We’ll need to see if SPX can catch its daily upper BB. It was good that it closed above 1520, but, it did also seem like it took a lot of effort to just gain +8.21 points! SPX is still heavily dependent on commodity-related sectors.

Nasdaq

Nasdaq gained another +15.58 points to close at 2699.03. It went as high as 2709.23 today. Its daily MAs and MACD are all rising. QQQQ, or the Qs, has already surpassed the July high, which was around 50.5.

QQQQ

The Qs closed at 51.23 today. More and more investors are coming back to techs!

The exchanges have come alive this week! NYX, NMX, NDAQ, ICE, and CME all made solid gains today. Since Monday and the announcement that ICE was going to be added to SP500, ICE has gained +16 points. CME jumped +41 points in the past two days; +28.69 points today alone! These guys are definitely back on the radar!

Good night and HappyTrading! ™

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