The market gapped up and held its gains for the first hour and half. We had a second leg up from 11:00 until shortly before the Fed minutes. After the announcement, we started the third leg up for a total of 45 points on the session. The markets needed to hear that an end to the interest tightening was near in order to move higher. Now if earnings are favourable, we should be able to accelerate the bullish bias. All tech sectors were in the green with the SOX the clear leader, adding 3.4% on the session. After hours trade was good as well with several big names beating and/or guiding higher. The following names are trading higher in AH - YHOO, CYMI, TXN, GILD, IBM. MOT, on the other hand, is trading down. Most NDX stocks closed the session favourably. The big winners were JDSU, SNDK, ATVI.
Tuesday, April 18, 2006
Nasdaq Technical Picture
The market gapped up and held its gains for the first hour and half. We had a second leg up from 11:00 until shortly before the Fed minutes. After the announcement, we started the third leg up for a total of 45 points on the session. The markets needed to hear that an end to the interest tightening was near in order to move higher. Now if earnings are favourable, we should be able to accelerate the bullish bias. All tech sectors were in the green with the SOX the clear leader, adding 3.4% on the session. After hours trade was good as well with several big names beating and/or guiding higher. The following names are trading higher in AH - YHOO, CYMI, TXN, GILD, IBM. MOT, on the other hand, is trading down. Most NDX stocks closed the session favourably. The big winners were JDSU, SNDK, ATVI.
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