The commodity sectors bounced today after slipping for 3 sessions. Coal stocks were particularly strong. WLT reached a new all-time high at $139.74 and ended up +5.04%. Other coals plays were up as well: ANR +4.25%, PCX +9.8%, ACI +3.16%, BTU +2.92%. Gold and silver stocks also bounced. FCX added +2.39% and closed at a new 52-week high of nearly $122. Oil services continued where they left off last week: RIG +3.25%, DO +1.4%, NOV +1.84%, SLB +1.96%.
Chinese internets broke out higher today. SINA soared +7.75% and traded as high as $83.6, a new all-time high. SOHU was up +1.83% and NTES jumped +3.48%.
The Dow was up +34.43 points; SPX added +4.73 points; Nasdaq gained +9.03 points:
OIH (oil services) added +2.84%. XME (metals and mining) gained +2.91% GLD (gold) and SLV (silver) both bounced. USO (oil) was up also. FXI (Chinese ADRs) climbed +1.13%.
SPX added +4.73 points to close at 1274.48. The daily MAs went higher and the MACD flattened.
Nasdaq gained +9.03 points to close at 2716.83. The daily MAs glided up and the MACD stayed flat.
After a brief 3-day rest, trading mixed and slightly down, all 3 major market indices closed higher today. Energy and mining stocks really helped SPX. After the market, NE and LULU shares jumped. LULU jumped +8.86%, raising its forecast. NE is being added to the SP500 index, replacing QLGC. NE shares traded up +5.46%. It looks like oil services will push even higher tomorrow. RIG, NOV, SLB, and DO all look very strong!