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8 Jan 2015
Spectacular technical snapback day for US indices – TheTechTrader
FXStreet (Barcelona) - Harry Boxer of the The Technical Trader, notes that US indices had a nice follow-through session after the consecutive two-day decline, with Dow, S&P 500 and Nasdaw 100 finishing with a positive close.
Key Quotes
“The stock market indices had a nice follow-through session with a strong surge from the get-go. After a morning 3-wave corrective orderly pullback held support, they ran up to the session highs by midday, and then they spent the rest of the day backing and filling and consolidating, but holding support at 4150 on the Nasdaq 100 and 2020 on the S&P 500, firming into the close, and finishing with a very positive session.”
“Net on the day, the Dow was up 212.88 at 17,584.52. The S&P 500 was up 23.29 at 2025.90. The Nasdaq 100 was up 49.17 at 4160.00.”
“Advance-declines were 3 to 1 positive on the New York Stock Exchange, and 2 1/2 to 1 positive on Nasdaq. Up/down volume was 2.7 to 1 positive on New York, with total volume of 4 billion shares. Nasdaq traded 1.85 billion shares, and had a 2 1/2 to 1 positive volume ratio.”
Key Quotes
“The stock market indices had a nice follow-through session with a strong surge from the get-go. After a morning 3-wave corrective orderly pullback held support, they ran up to the session highs by midday, and then they spent the rest of the day backing and filling and consolidating, but holding support at 4150 on the Nasdaq 100 and 2020 on the S&P 500, firming into the close, and finishing with a very positive session.”
“Net on the day, the Dow was up 212.88 at 17,584.52. The S&P 500 was up 23.29 at 2025.90. The Nasdaq 100 was up 49.17 at 4160.00.”
“Advance-declines were 3 to 1 positive on the New York Stock Exchange, and 2 1/2 to 1 positive on Nasdaq. Up/down volume was 2.7 to 1 positive on New York, with total volume of 4 billion shares. Nasdaq traded 1.85 billion shares, and had a 2 1/2 to 1 positive volume ratio.”