The bulls put together a pretty good bounce in afternoon trading despite minor weakness in the closing minutes. There just wasn’t any rush to add long exposure in front of the long weekend. The S&P 500 closed slightly over the 50-day simple moving average. Leadership by NASDAQ and Russell 2000 suggest traders want to make a quick buck before the Memorial holiday. Volume will likely thin out after mid morning tomorrow and is probably wise to book some long profits into an early pop as people get ready to start their vacation early. Computex and All Things D shows will be starting next week and select technology names may get a boost.
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