I've been yammering about V-shaped bounces quite a bit over the past couple days, and the action this morning supports my persistence. Despite disappointing weekly unemployment numbers, the buyers are very active, driving us straight up so far. We have taken out yesterday's highs, and the S&P 500 has moved through resistance at 1374, which is the 50-day simple moving average.
Some are attributing the strength to renewed hope for further quantitative easing after the poor jobs report, while others say it's just anticipation of good earnings reports over the next couple weeks....172 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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