The rebound rally today in stocks was pretty impressive. When the S&P fell to 2052.09 easily breaking through the 2075 support and falling past the 2065 valuation I spoke of earlier this week and last week, investors commenced buying. Just as the selling built upon more selling, buying suddenly began to draw in more buyers. At times prices moved up so quickly that some of the analysts referred to it as “panic” buying as investors feared missing out on the rally back up.
Advance Decline Numbers for Aug 12 2015
Volume finally moved back up above 4 billion shares as 4.3 billion shares were traded on Wednesday. Up volume made up 54% of all trades but 49% of all stocks were moving lower. New lows jumped to 213 and new highs came in at just 29.
Market Direction Closings For Aug 12 2015
The S&P closed at 2,086.05 up 1.98. The Dow closed at 17,402.51 down just 0.33. The NASDAQ closed at 5044.39 up 7.60.
Expanded Market Direction
Tonight’s market direction outlook is expanded into the members only section as I discuss a number of key aspects following today’s big rally back from what seemed like a possible break of the 2050 level. Included in the analysis are 4 trade ideas for tomorrow dependent on the market direction outlook.
Members Only Market Direction Outlook for Aug 13 2015
The Market Direction Outlook notes for Aug 13 are for members for the reasons explained above. FullyInformed USA Members can read the latest Market Direction Outlook and review the trade ideas directly through this link. Members can also sign in to the full USA site here. Non-members can join here or read about the benefits of a membership.
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