Summary
The major indices bolted higher on Monday, January 8, after last week’s scare. The S&P 500 rose 1.4%, the Nasdaq and Nasdaq 100 both popped a bit over 2%, the S&P 400 added 1.3%, and the Russell 2000 jumped 1.8%. But market breadth did not match the strength of the indices, with NYSE advances-declines at 1,576, NYSE advancing issues/total issues at 74%, and NYSE up volume/total volume at only 64%. There were a number of smaller stocks on the NYSE that fell on huge volume (40-50 million shares), so the volume stats may have been skewed by issues that simply don’t matter to the broader market.
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Source: finance.yahoo.com