Tuesday, March 8, 2011

Full Round Trip from Friday's Close

Chop. Chop. Chop. Chop.  We've already completed a full round trip from the close Friday in a session and a half on the S&P 500.  Amazing that oil can rally 15-20% and it puts a 2% drop in the market, but when it falls 1% the market rallies 1%.   We of course had another very positive overnight session on little news other than vague rumors in Libya...

Looks clear now that the 50 day moving average on the NASDAQ is the current market 'tell'.  Nearly 2% of a bounce once we made the slight break of that level mid afternoon yesterday.

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