Market Recap For 9th Dec 2014 – Who do we blame today?

By Markus Heitkoetter

It was a rocky night in overnight trading with global markets plummeting.

Some blamed it on Greece. Some blamed it on China. It even looked like Crude Oil dipping below $63 could have been to blame. Whatever the reason it was bad at the U.S. open.

But bad news just couldn’t keep U.S. markets down today.

The S&P ended flat with a .5 point loss for the day. Which was actually pretty impressive since the S&P was down as much as 1.3% in early trading!

The DOW had a nice rebound as well. After losing as much as 250 points, the DOW ended the session just 51 points lower at 17801.20

Small cap stocks and the Russell 2000 led the recovery today, ending the session with a whopping 1.8% gain. The NASDAQ also finished in positive territory up .4% at day’s end.

Bingo!

Tesla Motors (TSLA) opened lower with the rest of the market, before rebounding and ending the day with a 1.18% gain. However, the rebound occurred after Power Crossover Method traders had an opportunity to take profits at an ADR Profit Target of $209.22.

A Power Crossover Method Sell Signal was identified on 1st Dec 2014 and helped capture a nice 6 day slide.

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