S&P 500 & Nasdaq Analysis and Trends

[AnderL]

It's like turning over a float. Traders flipped more contracts than there are contracts available. Some contracts could have been bought and sold several times today.

I think with the rise in bid and ask it was enough for people to get out on the expectation of more upside to the QQQQs next week.

As to the Comp going back to previous highs. I can't see it for some time. That bubble was an anomaly. dot Coms were popping up everywhere and IPOing ever other day. Venture capital was compounding. Someone made money in one com would take that money and leverage it into another one. Too much risk was being taken on. After the recessionary sell off the Comp was undervalued and is now back within a stable uptrend. We will probably oscillate between the top and bottom of that channel.

Big money makes its money in channel. Retail investors buy for breakouts.