The Nasdaq Composite (COMPQ) rose on higher volume today. The SP500 Index (SPX) rose on lower volume which maybe be due to more big cap energy issues in the SP500 than on the Nasdaq. The Smallcap 600 Index (SML) rose on volume similar to the Nasdaq. Money is definitely flowing into growth companies recently.
The interday 5 minute chart (not shown) displayed a near perfect five waves up followed by an a-b-c correction of 50% of the the range in the afternoon. I suggest looking at this for those with interday charting capabilities.
Charts courtesy of Stockcharts.com
Tags: A-B-C Correction · Energy · Growth Stocks · Nasdaq Charts · Russell 2000 Smallcaps · Standard and Poor's 500 (S&P500) · VolumeNo Comments
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