The day ends on a high note as the S&P 500 (SPX) staged a last-minute pop to close at its best levels of the session. The buying pushed the Dow Jones Industrial Average (DJIA) to a 212-point gain and left the Russell 2000 (RUT) as the broad market leader.
A look to the sector action shows the same leaders as we discussed earlier - the SPDR Homebuilders (XHB), Regional Bank HOLDRS (RKH), and Broker/Dealer Index (XBD). Oil was down and the Oil Service HOLDRS (OIH) and Natural Gas Index (XNG) ended with moderate losses.
Chart Courtesy of Thomson Financial
| Index |
Index Value |
Point Change |
Percent Change |
| S&P 500 (SPX) |
1300.7 |
19.0 points |
1.48 percent |
| Dow Jones Industrial Average (DJIA) |
11715.2 |
213 points |
1.85 percent |
| Nasdaq Composite (COMP) |
2411.6 |
29.2 points |
1.22 percent |
| Russell 2000 (RUT) |
747.8 |
14.8 points |
2.02 percent |
| CBOE Market Volatility Index (VIX) |
19.43 |
-0.33 points |
-1.7 percent |
Earlier I noted that the Dow Jones Industrial Average (DJIA) was flirting with the lower end of overhead resistance. The afternoon rally continued the assault on that hurdle and leaves the DJIA in a position to potentially overtake that zone. Keep an eye on the action there.
Chart Courtesy of Thomson Financial
Chart Courtesy of Thomson FinancialAs for me, I will be taking a few days away from the office to re-charge my batteries. But fear not, my colleagues will be covering for me while I am out. I hope everyone has a great weekend! I will be back for the second half of next week...
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