Nasdaq Composite (Figure 3)
The Dow Jones Industrial Average ($DJI) ended the day on Thursday with a loss of 2.72 points, or 0.02%, and closed at 12,415.70.Twelve of the Dow's thirty index components posted a gain. The strongest performers were the financials: Bank of America (BAC) (+8.61%) and JP Morgan (JPM) (+2.09%). These were followed by Disney (DIS) (+1.67%) and another financial: American Express (AXP) (+1.16%). The weakest were Boeing (BA) (-1.08%) and Chevron (CVX) (-0.98%).
The S&P 500 ($SPX) finished the session with a gain of 3.76 points, or 0.29%, and closed at 1,281.06. The top performing industry groups were financials (+1.4%) and consumer discretionary (+0.7%). The strongest individual percentage performers in the index were Bank of America (BAC) (+8.61%), LSI Corporation (LSI) (+7.72%), and Pulte Group (PHM) (+7.65%). The weakest industry groups were energy (-0.6%) and telecoms (-0.5%). The weakest individual performers were MetroPCS (PCS) (-8.87%), Tesoro Corp. (TSO) (-5.87%), and Marathon Pete. Corp. (MPC) (-5.45%).
The Nasdaq Composite ($COMPX) ended the session higher by 21.50 points, or 0.81%, on Wednesday and it closed at 2,648.36. The strongest performers in the Nasdaq-100 ($NDX) were Sirius XM Radio (SIRI) (+11.48%), Marvell Tech. Group (MRVL) (+7.33%), and Seagate Tech. (STX). The weakest were Netapp (NTAP) (-2.72%), CTrip.com (CTRP) (-2.41%), and Sears Holdings (SHLD) (-2.21%).
Unless otherwise stated, the index action described in this article relates to the E-mini futures contracts for the respective indices. Actual index action may differ slightly in terms of pattern formation, although the market bias will remain the same.
Toni Hansen is president and co-founder of the Bastiat Group Inc., DBA Trading From Main Street. Toni is one of the most respected technical analysts and traders in the industry. She has been trading and educating new traders, money managers, professional market analysts and traders throughout the boom and bust of the last decade. She has worked in conjunction with some of the world's top financial exchanges. Learn more about Toni Hansen and the educational services she provides through her website at http://www.tonihansen.com.