Ending on a High Note
As I commented this morning, I was looking for a bit of a bounce, as optimistic market players positioned in front of earnings and commentary from Ben Bernanke. However, I did not anticipate strength of this magnitude. It was a melt-up, which obviously caught many folks by surprise. Some OK earnings in the banking sector set that group on fire and then it felt like the machines kicked in and just kept on pushing the action all day.
Volume was close to the lowest for a full day all year, but that didn't much matter as breadth was quite strong and the action trended up with hardly a pause all day long. The banks really stood out today while the movement in other groups wasn't nearly as buoyant....147 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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