Yesterday, I mentioned that we were just 60 points away from recapturing the 50 DMA, which is a must for a market reversal. Today we recaptured the 50 on a closing basis. Now let's see if we can hang on to it!The NASDAQ outperformed the DOW and S&P 2:1 with leadership provided by Internet, disk drive and hardware. Lots of stocks that had previously broken lower support, came back strong today - BIDU, NTAP, and SNDK to name a few.
One day does not a trend make, but it was a welcome relief after all those offset bars last week.
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