The Dow and the S&P snapped a 4 day losing streak with late day buying ahead of the jobs report tomorrow . The Nasdaq index was still down on the day and closed lower for the 5th consecutive. The good news is the market opened lower, the prices moved even lower before rotating higher and closing neare the highs for the day.
Lookint at the S&P on the daily chart, the low today stalled just above the 61.8% of the move up from the June low at 3899.84. The low reached 3903.65 and bounced into the close (closed at 3966.86 today).
Admittedly much is dependent on the jobs report tomorrow (good news is bad news for stocks is the general thought, while bad news is good news). The market will find out at 8:30 if it indeed was a good spot to buy today.
A snapshot of the closing levels is showing:
- Dow is up 145.97 points or +0.46% at 31656.41
- S&P is up 11.87 points or 0.30% at 3966.86
- Nasdaq is down -31.07 points ro -0.26% at 11785.14
- Russell 2000 is down -21.29 points or -1.15% at 1822.81