AT40 = 35.9% of stocks are trading above their respective 40-day moving averages (DMAs) (jumped from 25.6%)
AT200 = 43.0% of stocks are trading above their respective 200DMAs (up from 2-year closing low at 37.5%)
VIX = 21.0
Short-term Trading Call: neutral
Commentary
This is truly a market that is from another planet.
It was a very wild day for the NASDAQ. It almost gapped up enough to wipe out all of Friday's loss. Next sellers took the NASDAQ close to Friday's low. Finally, buyers won the day by closing the tech-laden index out with a 3.3% gain.
Like the NASDAQ, the PowerShares QQQ ETF (QQQ) had a wild day. It's 3.7% gain almost matched *Thursday's* open!
