Big profits from Apple and a promise from the Federal Reserve to keep rock-bottom rates for at least two more years powered the U.S. stock market higher on Wednesday.
Buying picked up after the Federal Reserve said it would keep interest rates near zero through at least 2014, which was longer than many investors anticipated. The actions were taken as a sign of the central bank's commitment to boost a sluggish economic recovery.
The Dow Jones industrial average .DJI rose 83.10 points, or 0.66 percent, at 12,758.85. The Standard & Poor's 500 Index .SPX was up 11.41 points, or 0.87 percent, at 1,326.06. The Nasdaq Composite Index .IXIC ended up 31.67 points, or 1.14 percent, at 2,818.31. (commentary & photo courtesy of Reuters)
The RSI had a good day today along with the overall market. RSI made the following picks today:
- Buy 256 shares MSCI Indonesia Investable Marke (EIDO); Stop = -$3.89 Target = +$11.68 Volatility = 5.00%
- Buy 405 shares First Trust Health Care AlphaDE (FXH); Stop = -$2.46 Target = +$7.39 Volatility = 3.42%
- Buy 376 shares First Trust NASDAQ-100- Technol (QTEC); Stop = -$2.66 Target = +$7.97 Volatility = 4.00%
- Buy 256 shares Rydex S&P 500 Pure Growth ETF (RPG); Stop = -$3.90 Target = +$11.70 Volatility = 3.36%
- Buy 224 shares Rydex S&P Equal Weight ETF (RSP); Stop = -$4.45 Target = +$13.34 Volatility = 3.59%
- Buy 117 shares SPDR Select Sector Fund - Energ (XLE); Stop = -$8.52 Target = +$25.57 Volatility = 4.70%
I’m entering these six funds into my monitor list as I’m looking to add positions to the portfolio.
