Stocks Went Up With Appearing Old Resistance
The stock indexes went to insignificant price raise Wednesday, as the two of the major indexes reached old resisting territories.
Nasdaq, with small cap Russell 200 and Dow Jones industrial average each went high up to 0.2%, while on the other hand, the S&P 500 hit 0.1% higher. Volume also went up on the Nasdaq and the NYSE based on preliminary data.
The S&P 500 now in the grove of old resistance at the 2105/2115 level. As for the Nasdaq. Potential resistance appears at 5,000 in which is about 1% above Wednesday close.
In the S&P 500 on Wednesday, Morgan Stanley behaved a leading 3.6% pop. Volume was about 45 above average. On Wednesday, there was no news tied to the advance. On Monday, Morgan Stanley reported Q1 results that topped the Street’s consensus estimate on earnings and revenue.