I am hesitant to use historical precedent nowadays because the market beast acts very different than it used to, but after yesterday's miracle rally on no news in particular ...which added some 15 S&P points off the intraday low, we typically should not expect a repeat in back to back days. Hence the market should be more vulnerable today...in theory. Thus far action this AM is identical to yesterday morning....but markets rarely pull the same stunt off twice in a row. That said one gets very impatient waiting for this support at the 50 day to finally break....the urgent buyer is relentless.
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows