Stock Market Summary Wednesday April 18th 2012

Posted by Stephen Sutherland on Wed, Apr 18, 2012 @ 12:54 PM

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Yesterday's market action was neutral.

The Nasdaq Composite fought back on Tuesday surging 1.8%. Volume came in less than the previous day and it was well below average indicating a lack of demand from institutional investors.

The good news is the Nasdaq is now trading back above 3000 and back above its 50 day moving average.

India outperformed Industrial materials matched the market and Russia underperformed.

Leading stocks action was good. Some of the stocks that fell hard on Monday made big recovery plays on heavy volume.

In summary after yesterday's behavior, it looks like this present correction may have found a temporary floor, in fact it maybe have bottomed and is now ready to head back higher.

Let's see if the upward momentum of yesterday can continue into today's session and if it does ideally I'd like any upside gained by the market to be made in above average volume.


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Topics: Stock Market Summary