Wang’s Happy Trading

The market was flat today, but, quite volatile. The techs were extremely strong, as Nasdaq added another +7 points! The Dow was down 22.28, and SPX was down 5 points.

Let’s take a look at some individual sectors:

INX2 (Internets) and SOX (semiconductors) were strong. XME (metals and miners) managed to barely stay in the green. Most of the market was actually pretty weak. OIH (oil services), USO (oil), and UNG (naturaly gas) were all down.

SPX

SPX was down 5 points today. It closed at 1552.58, above 1550. The daily BBs seem to be narrowing in. The daily MAs and MACD are still healthy. This might actually make it easier for SPX to catch its daily upper BB!

Nasdaq

Nasdaq gained +7.05 points to close at 2787.37. Its daily MAs and MACD are strong, as it continues to climb higher!

After last week’s big gains, we are seeing some volatility as people lock in profits. But, the leaders are still showing strength. We’ll have to see if the broader market can vent without losing altitude and give itself more room to go higher as the earnings come in.

One of the biggest news on the market today was perhaps that GOOG has finally broken above $600!! It made a new all-time high of $610.26 and closed at $609.62. It is trading nearly at $611 in AH. GOOG is not the only high-flyer today. Many other familiar names also made new all-time highs or new 52-week highs! RIMM went up another +$4.28 and set a new high at $118.77. AAPL gained +$6.46 with a new high at $167.91. AMZN added +$2.42 to close at $95.85 as the new high. VMW continued to fly, as it closed above $95! BIDU was also strong, adding +$7.83 with $329.5 as the high. ISRG charged up +$10 to set a new high of $256.99!

Good night and HappyTrading! ™