The NYSE indices are higher while NASDAQ has given up its gains and trades flat. SOX has struggled all session and backed off an attempt to rally, running into the same resistance as on Tuesday.
SP500 1.24, 0.05%
NASDAQ -27.9, -0.38%
DJ30 137.34, 0.53%
SP400 0.12%
RUTX 0.53%
SOX -1.63%
SP500, DJ30 rallied up to the 50 day MA's, but found resistance. NASDAQ moved through the 50 day but could not hold the move. That is not great action on a rebound. Those are key levels and now the indices need to hold and try again Thursday. Important phase of the move.
Some good breaks higher, still holding gains, though off the intraday highs in several cases.
Stocks moved up the past half hour, but as the final 15 minutes hit, there is some selling coming back in and pushing big names back down rather sharply. Still a fighting it out of course and volatility in these moves is the norm.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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