Posted by 12 July 2007

July 12, 2007 Stock Market Recap

This was the opposite of one of *those* days. Today was an upside explosion which took many of the indices to new highs and everything was up.

I hear this was the biggest day for the Dow since 2002. It rallied 2.09% to close at a new all-time high.

The Naz followed through on yesterday’s bounce off of the June highs. I would have liked to have seen volume higher than Tuesday’s selloff.. but who cares what I want. :-)

After a 5 week break the S&P is back to making higher highs.

The small caps stopped just shy of a new all-time high.

The best performing sector today was the Gold & Silver Index ($XAU) which was up 3.3%.

Semiconductors were also strong with a 2.9% gain.

Trend Table

Clearly everything is up again.

Trend Nasdaq S&P 500 Russell 2000
Primary Up Up Up
Intermediate Up Up(+) Up
Short-term Up Up(+) Up(+)

(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend

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Comments

  1. Posted by bbc on July 12, 2007 at 9:26 pm

    Michael, how do you define ‘short’ ‘medium’ and ‘primary’ term? Thanks. I like to dot the i’s.

  2. Posted by Michael on July 12, 2007 at 9:28 pm

    above or below the 10, 50 or 200-day moving averages

  3. Posted by Trench on July 12, 2007 at 10:58 pm

    Hi Mike– according to IBD, volume today was slightly higher than Tuesday’s on all the major indexes.

  4. Posted by StockRake on July 13, 2007 at 1:42 am

    I’m happy the volume wasn’t up “too” much. I don’t want this move to look overcooked just yet :) .