Market Rolls Early on, Long Awaited Rebound?
The NASDAQ just broke past key technical resistance of 2,520 which you can see on a 30 minute chart. Though this may be the start of a rally day for the markets, I wouldn’t get too excited too fast, 11 AM typically seems to brew a storm that pushes the everything back.
No stocks are running-a-muck yet today, but there are some decent numbers showing for some of the leaders: AAPL up 2%, BIDU up 3.3%, MA up 3%, and AMZN up 2.8%.
Gold is having another strong performance early on, with GLD up nearly 2% trading above $86 for the first time ever on a gap, and GG up a tad over 3%.
The big news today though is with Starbucks, SBUX stock which opened today above $20 after the company announced its Chairman would be taking over CEO position. I traded the stock this morning on the short side and lucky for me squeezed out a few pennies around $20.20, the stock is now trading at $20.90. I guess I should have went long!
As of this post the NASDAQ is up .75%, the DOW is up .31%, and the S&P is up .63%.
