Wednesday's US Market Wrap

by: Nick Perry


Nick Perry (Schaeffer's Investment Research) submits: The COMP and RUT clearly outperformed the SPX and DJIA. Earlier I noted that the SPX recouped most of yesterday's loss, but it is worth pointing out that the COMP and RUT erased all of yesterday's losses and then some. The COMP even surpassed Monday's high...


The shape of this graph has remained steady throughout the day...semis and networkers took the early lead while bonds opened lower and couldn't shake the weakness...gold stocks bounced back as the HUI recouped all of yesterday's drop...all-in-all, a strong rebound from yesterday's selling as gains of one percent were common...

That wraps up my thoughts for today. Tomorrow I plan on digging into the networking sector...