The market looked a bit hungover after the long weekend but the computer programs went right to work and bounced sharply higher, brushing aside a lackluster morning. The DJIA and S&P 500 were still negative on the day, but the Nasdaq and Russell 2000 took control. There were quite a few pockets of momentum in Apple (AAPL), Mellanox (MLNX), SolarWinds (SWI) and other names. With that sort of trading action, it's tough to be too negative.
The indices continue to hold key support levels and, so far, with more news from Europe and the monthly jobs reports still to come, there will be catalysts for movement. It would be nice to have drivers other than hoping for action by central bankers, but stocks continue to hold up and we always need to respect the price action, even if we don't believe its justified....80 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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