Markets had another boring day Wednesday, as the benchmarks continue to bullishly consolidate their recent moves. The Nasdaq and S&P 500 closed higher by.3%. The last 4 days both indexes have barely budged, and you know what they say about a dull market. The Nasdaq is just .5% from a YTD gain of 20%. The only other times since 2000 the Nasdaq has done on a full year basis was 2003 and 2009, when the index rose 50% and 44% respectively. Looking under the hood, however, some heavyweights had some banner days. YHOO rose 10% after reporting last night, taking out a 27.78 flat base trigger, annihilating anyone who shorted the stock in the aftermarket last night. STJ rose 5% after its earnings were released. Being in the heart of earnings season, 3 big tech names reported after the close, IBM EBAY INTC. Ans as Meatloaf used to say “2 out of 3 ain’t bad”, but 2 out of the 3 were received badly. IBM was trading up right at the big round 200 number where both 50/200 day resistance lies. EBAY INTC were down 6 and 4% respectively as of this writing.
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