Online Stock Trading | Google finds support at 200dma / Late day rally

Google finds support at 200dma / Late day rally


Filed Under Market Commentary |

GOOG rallied hard off of its 200 dma…shows strength and support. Next stop should be its 50dma but first I would like to see follow through action to confirm this support.

HPQ and JC Penny helped rally stocks at the end of the day…Positive earnings outpaced negative at a 3 to 1 margin. Dow Jones hitting 4 1/2 year highs…but what overshadows the Dow is the Russell 2k…nearing is 52wk high of 736.45 closed at its high today…to jump on this bandwagon the index was up .94% and Dow was only up .56%

What I would look for is for stocks to sell off in the morning friday only to rally back with volume!!!

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