4/16/07 Review: Nasdaq, SP 500, SOX, Biotechs, OIH, GLD

The markets had some great performances today. As mentioned earlier, the SP 500 index, SPX, has already surpassed its Feb. high, while the Nasdaq and the DOW are in position to challenge theirs. SOX managed to eke out a gain. The biotechs are still hot! Both OIH and GLD made good advances. And, there are lots of mergers and acquisitions going on! It's an exciting time to be in the markets!

Nasdaq Nasdaq caught up with its daily upper BB today and it is within range to overtake its Feb. high! The daily MAs are curving up even more, gaining momentum!

SOX SOX managed to eke out a gain, but, need some big moves to catch up with other sectors. The good thing is that the daily MAs seem to start to curve up again! It needs good earnings news from some of the big industry names, such as INTC and TXN! If these big semiconductor stocks start to run, it should provide SOX with some needed momentum.

OIH Another nice advance for OIH. It's riding the upper BB up nicely. Buying volume increased again. Although the daily techinical indicators may be toppy, the month chart still shows room for more upwards action!

GLD GLD had a little breakout today. Closing above its 6-month high of 68 on high volume!

Markets are hot!! Let's hope that SOX, the semiconductors, will start catching up with the other sectors this week! Happy trading!