STTG Market Recap March 18, 2014

A second day of strong gains as the markets look to put last week’s negative clouds behind them.   The S&P 500 added 0.72% and the NASDAQ 1.25%.  Some were relieved by comments out of Russia as Putin said Russia was not looking to take control of more of Ukraine after approving a plan to make Crimea a part of Russia. In economic news, the Department of Commerce reported housing starts in February were down 0.2 percent from January and off 6.4 percent from the year-ago month, while a rebound in building permits offered hope for the housing market emerging from a soft patch.

A rally in technology helped the NASDAQ outperform today.

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The NYSE McClellan Oscillator made it back over to the positive side with today’s move.

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In terms of sectors some area of relative strength are the regional banks, transports, technology, and the head scratching utilities.

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Microsoft (MSFT) exploded higher as the company said it would soon unveil a version of Office for the iPad.

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