Analyzing market internals each day can give some early and under the surface clues as to the health and potential future direction of equity markets. In this installment of After the Bell we look at some key market metrics.
As illustrated in the table below, the NASDAQ and the NYSE continue to extend their bounce, erasing now nearly all they lost in January. Internals were positive with solid, though not spectacular wins by advancers and up volume versus decliners and down volume.
We must admit we are a little surprised that the bounce has been so robust in terms of point gain. Internals have been generally decent on the move up but far from stellar, which has kept up from christening this move just yet.
Key industry groups were all positive on the session.