Stock Market has Topsy-Turvy Day on Thursday
The stock market indices had a very volatile, topsy-turvy day as the former FBI Director James Comey testimony affected prices.
The day started out with a pop to the upside, they came down hard, and when nothing was revealed of any major consequence in the testimony, they then rallied the market by midday to the session highs on the Nasdaq 100. Both the Nasdaq 100 and the S&P 500(NYSEARCA:SPY) pulled back in a 3-wave pullback retest, held the morning lows, and rallied sharply into the close, particularly with the Nasdaq generals leading the way. The S&P 500 wasn’t strong, but managed to eke into the positive column, although underlying technicals were quite impressive today, not even during the down part of the session.