Technical Analysis

Huge day for stocks as jobs and Powell ignite a rebound

Nasdaq up 4.26%. S&P up 3.43%

It was a huge day for stocks today as the jobs report and a more dovish/less hawkish Powell ignited a rally.  In addition, some technical levels were taken out including the 100 hour MA for the S&P (see posts). 

The final numbers are showing:

  • The S&P index rose 84.05 points or 3.43% at 2531.94
  • The Nasdaq index rose 275.25 points or 4.26% at 6738.85
  • The Dow rose 746.94 points or 3.29% at 23433.16

FYI the European major indices also had steller gains today. Below is a graphical look at the major indices in Europe and the US.  All of them closed near the highs.

For the week, the Nikkei was the only loser.  The rest of the major global indices are ending with gains with Spain’s Ibex leading the charge at up 4.47%.  

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