Stock Market Summary Saturday July 28th 2012

Posted by Stephen Sutherland on Sat, Jul 28, 2012 @ 11:42 AM
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Yesterday's market action was positive.

The Nasdaq Composite gained for a second day in a row surging 2.2% in volume greater than average (Point A).

Trade levels increased from the previous day's decent levels indicating institutional investors were aggressively buying stock for a second consecutive day, injecting further strength back into the market.

Leading stocks action was positive.

The last two day's behavior confirmed the market's underlying strength I noticed in Wednesday's session when the market shrugged off the bad news coming from tech giant Apple. There is now a greater chance that the Nasdaq will make another attempt at trying to break back through the 3000 level over the next few weeks (Point B).

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