After a choppy open, the Nasdaq spiked up 15 points in just twenty minutes. The rest of the morning was taken up by a retracement back to yesterday's close and then in the afternoon a rally ensued back to the morning highs. All of this took place on less than average volume. The biotechs were king for a second day straight. Participation was mixed with networking and hardware losing ground in this session. The Nasdaq regained its 50 day SMA and closed just one point shy of the December high.
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