What a day! Major indices reverse sharply to the upside after initial CPI plunge.

What a day!

For the day, the S&P had its fifth-largest intraday reversal from a 52 week low. The low today was down -2.39%. That was a new 52 week low. At the close it was up 2.6%

For the NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index it was the 4th largest reversal from a 52 week low.. At the low it fell -3.15%. The index is closing up 2.23%.

• S&P and NASDAQ snapped 6 day losing streak
• All Dow 30 stocks close higher. Best day since November 2020
• All S&P 11 sectors close higher
• The Dow industrial average range was 1507 points or around 5%
• the NASDAQ index had a range of 608 points or about 5.70%

the final numbers are showing:

• Dow industrial average rose 827.87 points or 2.83% at 30038.71
• S&P index rose 92.85 points or 2.60% at 3669.89
• NASDAQ index rose 232.06 points or 2.23% at 10649.16
• Russell 2000 rose 40.64 points or 2.41% at 1728.41

The S&P index from a technical perspective tested the 50% midpoint of the move up from the March 2020 low. That level came in at 3505.24. The low price today reached 3491.58. The price of the S&P also traded back below its 200 week moving average at 3599.73, but is closing back above that level at 3669.89.