15:30 ET Dow +134, Nasdaq +42, S&P +15.91: [BRIEFING.COM] As Briefing.com suggested in an earlier comment, the markets are set for a strong close. The Dow has comfortably cleared the 10,900 level and will now face more significant resistance at 11,000. Blue chips haven't seen territory in excess of 11,000 since September 14, 2000. Both the S&P 500 and the Nasdaq also trade near the day's best levels on what has been an impressive intraday rally. The one knock that could be lodged against today's trading is that total volume traded will be somewhat light. Yet the fact that today is a Friday (Friday's are characteristically light) mitigates this contention to some degree. Additionally, the markets are working into a seasonally slower period in which total market volume tends to decline. DJTA +0.4%... DJUA +1.0%... SOX -0.5%... XOI +1.8%... BTK +3.9%... Nasdaq 100 +2.5%... S&P Midcap 400 +1.0%... Russell 2000 +0.8%... NYSE Adv/Dec 1917/1126... Nasdaq Adv/Dec 2075/1649.
15:00 ET Dow +97, Nasdaq +31, S&P +11.58: [BRIEFING.COM] With an hour remaining to trade, the markets continue to hold towards the day's best levels. It's been an interesting day with the markets taking off to the upside on an employment report with bearish implications for the economy. For the time being at least, it appears a "buy the dip" mentality has returned to markets. This turn in sentiment is not surprising in light of the sizeable gains made in over the past month's rally. With certain equities returning 60% and 70%, many investors have had their eyes reopened to the potential gains to be made on the long side of a trade. Buy interest continues to be evident in financials and tech while sell pressure is hitting retail, airlines and defense. The relative Nasdaq strength is notable in light of the lack of participation from semiconductors (SOX -2.4%). DJTA +0.2%... DJUA +0.7%... XOI +1.6%... BTK +2.8%... Nasdaq 100 +1.0%... S&P Midcap 400 +0.5%... Russell 2000 +0.5%... NYSE Adv/Dec 1833/1181... Nasdaq Adv/Dec 1962/1717. |
