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Monday, February 12, 2018

Market Alert - To the Close

The market is holding the early gains and the gains and those added during the session, but it is also having the last half hour fits as well, fading back from the highs.

SP500 38.02, 1.46%
NASDAQ 110.30, 1.60%
DJ30 431.25, 1.82%
SP400 1.06%
RUTX 1.12%
SOX 1.85%

We picked up some AMZN early, some NFLX later, and may pick up some more NFLX late after this late dip from the highs.

Anything really different? Not really. Stocks continued off the Friday reversal after SP500 undercut the 200 day MA on the low. That took out a lot of sellers and now it looks as if the market is, as we said a few times, on a bounce upside that precedes a test of that prior low down the road. That is the usual scenario and we are playing some of the names as they bounce. FB looked decent but it faded and we will see if it can recover again. Others look pretty good, e.g. RACE.


Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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