Sentiment Helps Market Build On Early Gains
We still have a little over 2 hours to go in today's session, but so far the market has been able to build on its early gains. The Dow is currently +150 points, while the Nasdaq is up more than 2.1%, and leading the way.
I think the early bearish sentiment readings really helped this rally. The CBOE put/call is still running at 1.06, a high reading. And the ISEE is still really low at 65, after hitting an extreme reading of 48 this morning.
Also, the Yen is moving nicely lower today. I mentioned yesterday that I would like to see it break below the $92.50 support level, which has occurred today. If this marks a new downtrend in the Yen, that would bode well for the carry trade and at least temporarily stem the selling that we've seen in global equities, commodities, etc.
Here are some stocks making big moves in strong volume:
- FSLR, ECOL, CMP, MCRS, WW, ORB, ATLS, SPWR, APA, MEE, MORN