Wang’s Happy Trading

We had another volatile day on the market, and, many wild individual moves. CME, for instance, traded as high as $693, a new all-time high, or up $43 from yesterday’s close. It closed at $672.15, up $22.15. The Dow was down almost 130 points at its low, but, came back to close only down 3.33! SPX made it all the way above 1520, but, closed down 1.48 points. Nasdaq was on the weak side today, down 23.90.

Here is how various sectors looked at the close:

INX2 (Internet) gained +1.04%, but, both SOX (semiconductors) and BTK (biotechs) closed in the red. SOX was, again, very weak. Commodities and related sectors were strong, as GDX (gold miners), OIH (oil services), XME (metals and mining), USO (oil), and GLD (gold) all closed in the green. This makes it the 2nd day in a row that the commodities sectors were stronger than the broader market. XLF (financials) almost made it to green, losing just 3 cents. FXI (Chinese ADRs) pushed above the flatline just before the close.

SPX

SPX lost 1.48 points to close at 1514.40. It went above 1520 today, but, couldn’t hold on to the gains. The broader market still seems nervous and undecided for the moment. If it can manage to close above 1520, it might be able to draw in more buyers and convince them to stay in longer.

Nasdaq

Nasdaq was down 23.90 points to close at 2750.86. It tested the 30-day MA on the low end and the 10-day MA on the high end. It closed under the 20-day MA, and the MACD slid a little more. The overall picture is still pretty good, though. The 10-day and 20-day MAs are pinching closer together. One solid move up will push Nasdaq above its MAs again.

This morning, MOT announced “not-so-good” earnings, but, was saved by its future outlook. Its shares went up over +4% today. After the market, ESLR announced a better-than-expected earnings, as its quarterly loss narrowed. Investors cheered the news and sent ESLR up more than +10% in AH trading! WFR reported quarterly profits that jumped +66%, sending its stock up +10.54% in AH! The biggest news after the market today was perhaps the earnings from MSFT. MSFT’s report card was superb in many different ways, sending its stock up nearly +11% in AH trading!

Good night and HappyTrading! ™