All indices closed @ high of the day with Nasdaq closing well above 200 DMA..DOW & S&P 500 are all set to go through 200 DMA.....
Internals of the markets were strong as listed below :
UP volume led by 20.67 to 1 in NYSE & 14.83 to 1 in Nasdaq
Advancing stocks led by 5.72 to 1 in NYSE & 4.14 to 1 in Nasdaq
New 52 wk highs were in the lead in NYSE..Nasdaq still lagged behind with more 52 wk lows....
The above stat has the feel of a solid bottom being in place.....
Many pundits on CNBC are NOT sure of this one day rally..BUT i beg to differ......
Stocks which were up 5% or more included TCK,LVS,BCSI,WDC,PMCS,CNQ,
GNK,SOL......
AH Futures UP
Asian markets UP
Gold,Oil UP
BLOG does NOT give buy or sell.
Saleem
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