Online Stock Trading | SOX Index lifts the NASDAQ as the S&P 500 ends flat

SOX Index lifts the NASDAQ as the S&P 500 ends flat


Filed Under Market Commentary |

A tame PPI showed inflation pressures slowed, giving traders much relief from inflation fears.  Aside from economic numbers influencing traders mind the day brought on a massive rally with the semi-conductors.  The SOX index exploded today with massive buying.  At the close the NASDAQ led all the major averages advancing by .6%.  One troubling note was the late day reversal from the S&P500 closing flat and the Dow retreating from 14k.  Without completely ignoring the close, today’s action was still towards the bullish end of the spectrum

CPI numbers again will control the morning trade, not too mention after hours trade today.

Going to keep this short, will blog intraday tomorrow.  The morning trade should prove to be interesting.  I still belive the path of least resistance is higher and we’ll see positive upside surprises on earnings.

Enjoy your evening!

Market Speculator

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