Wall Street charged higher on Tuesday after a round of strong corporate earnings and easing anxiety about the debt crisis in Spain whetted traders' buying appetite, helping to reverse losses taken last week.
The Dow Jones Industrial Average soared 194 points, or 1.5%, to 13116, the S&P 500 rallied 21.2 points, or 1.6%, to 1391 and the Nasdaq Composite zoomed higher by 54.4 points, or 1.8%, to 3043.
In a sign of the breadth of the rally, more than 90% of the stocks listed on the broad S&P 500 were to the upside.
On the New York Stock Exchange, volume in advancing shares outpaced that of declining shares by more than seven-to-one, according to data compiled by FOX Business. Still, volume was below the one-month and one-year average, leading some to question the conviction of the upswing.
Jakarta Composite Index (JCI) today is estimated to move mixed with uptrend possibility. We see chances on commodity, property, and consumer-based stocks for trading. The support-resistance level is within 4,135-4.180. Top picks: AALI, APLN, CPIN, HRUM, and ROTI.
Today, the JCI may move within the range of 4,120-4,195 with uptrend position. Several stocks to watch: SMRA, BMRI, and AUTO.
Technically, the JCI today may move in mixed position with uptrend possibility within the range of 4,125-4,188. Several stocks for day trading: BMRI, ROTI, JSMR, and BSDE.
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