4/12/07 Review: Nasdaq, SPX, SOX, BTK, OIH, FXI

Great day today for the markets! Pretty much non-stop buying! Nasdaq recovered all of its losses from yesterday, and then some! SP 500 and the DOW didn't do too badly, either. SOX, the semiconductors, joined in. And, the biotechs are on fire, as the AMEX biotech index, BTK, closed above 800 (all-time high, set in 2000, was about 811)!

With the biotechs and the semis running strong, Nasdaq had a great day!
Nasdaq managed to close above 2480! In the chart, we can see that all daily MAs are now rising up and the 10- is above the 20- is above the 30-day MA. These could be bullish signals to pick up more momentum. Maybe we'll start to see some consecutive "up" days to catch the upper BB and, perhaps, to test the Feb. highs!

The oil services, OIH, seemed strong, still.It gained almost 3 points to catch up with its daily upper BB on solid buying volume!

And, it seems like the chinese stocks are hot again, as the ETF tracking the chinese stocks, FXI, gave another good showing.
FXI, with a 2.48% gain, also caught up with its upper BB on rising volume!

LAM Research, LRCX, reported good earnings AH. This might give the SOX some more fuel tomorrow. It sure needs more momentum to push through its multi-year range. And, Nasdaq might be able to push higher with both biotechs and semiconductors leading the way!