Wang’s Happy Trading

The market had some early volatility today, perhaps due to people locking in profits. It allowed the market to vent without losing altitude. In the afternoon, it turned sharply higher as the Fed minutes were released. The market rallied all the way to the close. Both the Dow and SPX ended the day with new record highs, at 14,164.53 and 1565.15, repectively. Nasdaq continued to make new 52-week highs, gaining +16.54 points.

Here’s how the market closed:

SOX (semiconductors) was weak, still having problems staying above 500. INX2 (Internets) was very strong, gaining +1.29%. BTK (biotechs) closed on the green side. XME (metals and mining) charged up +3.15%; GDX (gold miners) also jumped, up +2.62%. FXI (Chinese ADRs) added another +2.52%.

SPX

SPX closed up +12.57 points, at 1565.15, a record high!! It is getting closer to its daily upper BB and its 10-day MA just perked up. The broader market has a lot more room to go up!

Nasdaq

Nasdaq went up another +16.54, charging above 2800 to close at 2803.91! Its daily MACD and MAs are strong as it continues to make new multi-year highs!

XMSR shares jumped nearly +7% today as analysts think that the merger with SIRI is likely to succeed.. GOOG again made a new all-time high today, as high as $623.78, as more analysts are raising their price targets!! It closed at $615.18. VMW also continued to jump higher. It went above $100 today, closing at $102.05! Its parent company, EMC, seemed to be finally benefitting from VMW’s increasing price. EMC shares went up +3.02% today.

Good night and HappyTrading! ™