Wang’s Happy Trading

What a volatile day! The market spent most of the morning in the green, but, ended pretty much unchanged. The Dow managed to add +12.76 points; SPX was unchanged; Nasdaq slid almost 7 points.

Here’s how the market looked at the close:

INX2 (Internet) and SWH (software) managed some minor gains, while SOX (semiconductors) and BTK (biotechs) lost some grounds. GLD (gold) and GDX (gold miners) kept things hot. USO (oil) and OIH (oil services) were flat. HGX (housing) slid 2.43%, and XLF (financials) was slightly off. MOO (agriculture) was very strong today, jumping up +2.46%!

SPX

SPX closed unchanged at 1447.16. It managed to stay above the 1440 level. The MACD continued to slide.

Nasdaq

Nasdaq lost almost 7 points to close at 2602.68. It tested 2625 today, but, was not able to stay above. Its daily MACD is now negative.

The market is struggling to establish a bottom. It is still in a critical condition. We’ll be watching the job report and the market’s reaction tomorrow.

This morning, MON delivered a blowout 1Q earnings that nearly trippled! It’s shares jumped +8.48% and inspired many stocks in the same sector to move up as well: MOS +3.13%, CF +4.73%, AGU +4.05%, TNH +5.36%, TRA +8.01%, and CNH +3.75%. ESRX continues to charge up to higher grounds. It made another new ATH today at $74.87!

Good night and HappyTrading! ™