Off the Charts
We saw some early morning weakness today, sparked by some pieces of bearish global economic data. When it was all said and done today, though, the market took the data in stride, rallying after it put in a pivot low in the first hour of the day. The market pushed higher in the afternoon, but the indices finished mixed. The S&P 500 and Nasdaq both closed negative, while the Dow eked out a small gain.
The bears had control of the market in the morning but failed to gain any traction. After briefly piercing the eight-day moving average, the S&P quickly reclaimed that level and powered higher for the rest of the session. Use today's low of 1449 as your new point of reference....635 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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