Nasdaq gained 2.11% on Jan 8th trade and Asian markets are also in gaining mode on Jan 9th

Nasdaq gained 2.11% on Jan 8th trade and Asian markets are also in gaining mode on Jan 9th. Dow Jones gained by 0.58%. Better to track Nasdaq only as Dow Jones had very limited stocks.

Japan index Nikkei 225 gained 1.33% and trading currently at 33,822.

Hang Seng index gained 0.7% and currently trading at 16,339.

China related Shanghai is trading flat and gained just 0.17%.

Australia related ASX gained almost 1% and trading at 6,328.

India related Nifty-50 has also probability to gain over 100 points in first half of trade.

Part of the rally is short cover rally. As some buying is witnessed, the short positions should be covered, and they are forced to buy at high price. Many people might have built short positions in past 2 or 3 days as markets are trading in red. So while covering those shorts, generally markets will rally further.

Mainly Apple company in USA gained 2.4% on Jan 8th trade and it recovered losses made in the past 2 days.

Technology stocks in USA gained on Jan 8th trade.