It was a nice way to start the week. The market showed strength today and kept things in the GR$$N all day. The Dow was up +101.45 points; SPX gained +11.3 points; and Nasdaq added +12.79 points.
Here’s how the market closed:
HGX (housing) jumped another +2.66%, while XLF stayed strong also, adding +2.12%. INX2 (Internet), SOX (semiconductors), BTK (biotechs), and SWH (software) were all slightly green. GLD (gold), GDX (gold miners), and XME (metals and mining, mentioned this weekend) were solid. PBW (clean energy) continued pushing upwards. FXI (Chinese ADRs) lost 1%.
SPX
SPX gained +11.3 points to close at 1515.96. Its MAs and MACD continued to move up. It is climbing its daily upper BB higher and is at the upper end of its resistance range (1500-1520).
Nasdaq
Nasdaq added +12.79 points to close at 2718.95. Its 10-day and 20-day MAs are rising well. We’ll need to see the 30-day MA start turning up. Its MACD continues to rise as well. Techs are still lagging the broader market just a tad and it would be bullish for the whole market if they can make some stronger moves to catch up.
This morning, RATE announced 2 acquisitions and received an upgrade to “Buy”. Its shares jumped +21.72% today. RATE had recently dropped from almost $54 per share to just above $35 per share. TTWO received an upgrade to “Buy” today, ahead of its “Grand Theft Auto IV” release. Its shares rose +5.7%! After the market, WM announced job and dividend cuts, which sent its stock down 8.85% in AH trading. TXN demonstrated strength in its business by comfirming that its sales and profits will be at the higher end of its previous guidance. Its shares traded almost +5% higher in AH trading.
Good night and HappyTrading! ™
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