Stock Market Summary Friday 2nd March 2012

Posted by Stephen Sutherland on Fri, Mar 02, 2012 @ 12:41 PM
describe the image

Yesterday's market action was positive.

The Nasdaq Composite gained 0.74% on heavy volume. When the market rises and trade is heavy it means institutional investors are buying and this strengthens the market.

This move was a great response to the previous day's bearish reversal and cancels Wednesday's negative action.

The S&P 600 appears to have found some solid support at the 450 level. It's breakout point remains at 465. On a weekly chart the small cap 600 looks like it could attempt to break out at any time.

With sector performance, India matched the market and Russia and industrial materials outperformed the market.

Leading stocks behavior was positive.

In summary from how the market acted yesterday, in the short-term it will probably go sideways or higher.

Topics: Stock Market Summary