(Heads up! I will be in New York the latter half of this week so there will only be market recaps today and tomorrow.)
Shaking things up today and trying out a different layout for tonight’s market recap alongside some new data points. What do you think? Feel free to leave a comment, discuss on facebook, or email me your opinion.
“In a Nutshell” Market Recap:
The major stock averages flew to their highest levels in years Monday after Federal Reserve Chairman Ben Bernanke reassured the market that the horizon holds nothing but low interest rates.
Adding to its six-week winning streak, the Nasdaq tacked on 1.8% to a fresh 11-year high. The S&P 500 added 1.4%, and the Dow Jones industrial average climbed 1.2%.
Intraday Chart (NASDAQ):
- World’s Best CEOs (Barron’s)
- EU Gas Now Costing Drivers Over $10 Per Gallon (ZeroHedge)
- Apple vs Exxon Market Cap Comparison (Bespoke)
Top 3 Stock Performers:
- SIGA Technologies (SIGA): +29.26%
- Arena Pharmaceuticals (ARNA): +$24.90%
- Verenium Corporation (VRNM): +19.81%
Top 3 Sectors:
- Healthcare, +1.6%
- Services, +1.6%
- Technology, +1.4%
Beautiful Breakout or Breakdown of the Day:
BREAKOUT – Baidu (BIDU) shares moved up 4.5% on strong volume, with the stock clearing through resistance at $147.70. Next resistance at $152.10. 52 week highs $165.96. Marked up chart from my MarketSmith account,
I know this market is red hot but for your Mom’s sake, stay frosty (sharp) out there.