The market had an extremely strong session on Thursday, and the rally rolls on.
The day started out with a move up off the opening, and just accelerated from there, reaching the session highs around early afternoon. They pulled back to test the intraday moving averages successfully, and then moved back up to retest the highs, creating doubletops at 1605 NDX and just under 980 SPX. In the last half hour or so they gave back a bit of it, but still closed strong.
Net on the day the Dow was up over 188 points at 9069.29, the S&P 500 up 22.22 at 976.29, and the Nasdaq 100 up 36.52 at 1601.52.
Advance-declines were better than 5 to 1 positive on New York and about 3 ½ to 1 positive on Nasdaq. Up/down volume was more than 1.1 billion to the upside and 225 million to the downside, about 4 ½ to 1 positive, on New York. Nasdaq traded a heavy 3 billion shares and had an almost 5 to 1 positive volume ratio.
TheTechTrader.com board was nearly all higher, except for the ultrashorts and for STEC Inc. ( ), which dropped 1.39 on profit-taking, after reaching a new all-time high earlier in the day.
On the plus side, Potash ( ) was up 6.85 at 95.78, and Mosaic ( ) up 3.03 to 51.45, as ag/chem stocks were very strong.
Among financial stocks, Goldman Sachs ( ) advanced 4.99 at 165.45, JP Morgan ( ) was up 1.32 at 38.15, and Morgan Stanley ( ) up 1 at 28.54, although Wells Fargo ( ) actually lost 19 cents to 24.26.
