---
title: Stock Market Summary Thursday 4th October 2012
description: "Yesterday's market action was neutral. 
 The Nasdaq Composite added 0.49% on average volume  (Point A)  indicating institutional buying. When instit"
image: https://www.isaco.co.uk/hs-fs/file-17876541-png/images/stock_market_summary-resized.png
---

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# Stock Market Summary Thursday 4th October 2012

Posted by [Stephen Sutherland](https://www.isaco.co.uk/blog/author/stephen-sutherland) on Thu, Oct 04, 2012 @ 12:29 PM

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![describe the image](https://www.isaco.co.uk/hs-fs/file-17876541-png/images/stock_market_summary-resized.png)

Yesterday's market action was neutral.

The Nasdaq Composite added 0.49% on average volume [(Point A)](https://www.isaco.co.uk/media/oct04_001_dmu_june_12.png) indicating institutional buying. When institutional investors buy, it strengthens the market and makes it prone to further rises.

Over the last 5 days, the Nasdaq has been shuffling sideways and so far has not been able to break through resistance at 3147 [(Point B). ](https://www.isaco.co.uk/media/oct04_002_dmu_june_12.png)As I write this though market futures suggest a positive open today which means we may see it break out of this sideways range as early as today.

Leading stocks action was negative. A slightly higher number fell in above average volume compared to those that gained in above average volume. When this happens on a market 'up' day, it's known as a bearish divergence.

Even though leading stocks action was negative, yesterday's index activity has convinced me to change my short-term stance to bullish. Rather than my focus being on support, it's now on resistance and the next major resistance point for the Nasdaq is 3200 [(Point C).](https://www.isaco.co.uk/media/oct04_002_dmu_june_12.png)

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