STTG Market Recap May 12, 2014

The NASDAQ had its second straight day of outperformance jumping 1.77% to the S&P 500′s 0.97%.  The S&P 500 is now at a closing high and near the all time highs intraday reached April 2nd.  A lot of familiar names that have beaten down for nearly 2 months were the leaders Monday.  Chinese stocks also did well after China announced some ideas to help increase market access.   Other than that there really didn’t seem to be any great catalyst for such a move.

Here are the indexes:

spx

nasdaq

The Russell 2000 outperformed big time today as well…

rut

Biotechs such as Biogen (BIIB) resurfaced…

biib

A company like E-Commerce China Dangdang (DANG) is an example of what was really moving today – you can see an awful long term downtrend before today.

dang

Again, it was a day for the beaten down former momentum names…

ua fb

nflx

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