Technical Analysis

The Dow and S&P rises for the 3rd day in around.

Yesterday both the S&P index and the Dow closed higher for the 2nd day in a row. The NASDAQ did not join them as it fell in trading yesterday. However all 3 indices are closing higher in trading today with solid gains. The indices closed near/at the session highs. 

The final numbers are showing:

  • S&P index rose 151.74 points or 6.13% at 2627.30
  • NASDAQ index rose 413.24 points or 5.6% at 7797.53
  • Dow industrial average rose 1351.62 points or 6.38% at 22552.17.

The final hour of trading – which has been very volatile of late – once again saw the major indices rock ‘n’ roll ‘n:

  • S&P index, was at 2594.44 at 3 PM ET. The high in the last hour reached 2637.01. The low reached 2574.92. That is a range of 63 points.
  • NASDAQ index was trading at 7686.41 at 3 PM. The high in the last hour reached 7809.82. The low extended to 7639.95. That is a range of 170 points.
  • Dow industrial average was trading at 22227.47 at 3 PM. The high in the last hour reached 22595. The low reached 21964.24. That is a range of 631 points in the last hour. 

The indices are also closing well off there lows for the day (the major indices did not go negative today).  Looking at the % low, % high and % Close, the % lows for the indices reached:

  • S&P index, +1.02%
  • NASDAQ index, +1.06%
  • Dow industrial average, +1.07%

Of the lows from Monday:

  • The Nasdaq is up 17.77%
  • The S&P index is up 20.31%
  • The Dow is up 24.06%

Of course those gains are impressive, but understand the gains are off much lower levels. The major indices are still well off the highs for the year. 


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