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4 Feb 2015
US indices experience a bullish close – TechTrader
FXStreet (Barcelona) - Harry Boxer of The Technical Trader, notes that US indices had a very volatile session, opening with a gap and closing positive after experience corrective pullbacks.
Key Quotes
“The stock market indices had a volatile session but a very bullish one. The day started out with big gaps up, and sharp run ups to resistance, then they pulled back in orderly, 5-wave, corrective pullbacks. By midday, they stalled the decline at secondary support and ran up the rest of the session.”
“The Nasdaq 100 reversed from 4173 to 4228, and the S&P 500 went from 2028 to 2050, closing near the highs going away.”
“Net on the day, the Dow was up 305.36 at 17,666.40. The S&P 500 was up 29.18 at 2050.03. The Nasdaq 100 was up 40.56 at 4229.48, and most of that came near the end of the session on a late big surge. It was a very, very big day and expanded in the last hour.”
“Advance-declines were more than 4 to 1 positive on the New York Stock Exchange, and 3 to 1 positive on Nasdaq. Up/down volume was 8 to 1 positive on New York, with total volume of almost 4.6 billion shares. Nasdaq traded 2.1 billion shares, and had a 4 1/2 to 1 negative volume ratio.”
Key Quotes
“The stock market indices had a volatile session but a very bullish one. The day started out with big gaps up, and sharp run ups to resistance, then they pulled back in orderly, 5-wave, corrective pullbacks. By midday, they stalled the decline at secondary support and ran up the rest of the session.”
“The Nasdaq 100 reversed from 4173 to 4228, and the S&P 500 went from 2028 to 2050, closing near the highs going away.”
“Net on the day, the Dow was up 305.36 at 17,666.40. The S&P 500 was up 29.18 at 2050.03. The Nasdaq 100 was up 40.56 at 4229.48, and most of that came near the end of the session on a late big surge. It was a very, very big day and expanded in the last hour.”
“Advance-declines were more than 4 to 1 positive on the New York Stock Exchange, and 3 to 1 positive on Nasdaq. Up/down volume was 8 to 1 positive on New York, with total volume of almost 4.6 billion shares. Nasdaq traded 2.1 billion shares, and had a 4 1/2 to 1 negative volume ratio.”