Off the Charts
After three days of selling, the market saw a nice comeback today. The market got a boost in the pre-market from better-than-expected jobs data combined with a Spanish austerity plan that focused on spending cuts instead of tax hikes. Crude oil also participated in today's rally as it closed the day up 2.43%. The indices closed the day in the green with the Nasdaq leading the way, finishing up 1.39%.
The S&P 500 gapped up about 6 handles this morning, and after holding that gap for the first two hours of the day (showing commitment to the long side), the market took off higher. Today's strength erased yesterday's losses, and the S&P rallied as high as 1450, the same level from which it broke down on Tuesday....756 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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