"Shockingly" as the market broke down, a massive buy order hits Wall Street causing a U-turn. As we all know, when a market breaks key support it makes a lot of sense for a flood of buying to show up -- ahem. Well, maybe if you are the PPT. Forgive me for my cynicism - after being POMO'd over the head for 6 months, I forgot what the invisible hand looked like during a selloff. It's been a long while.
Intraday chart - click to enlarge
We'll see if it holds...
[
May 27, 2009: Daniel Schaffer Notices the "Invisible Hand" aka Plunge Protection Team]
[
Jul 14, 2008: Our Gospel is Spreading - Jim Cramer References "The Hand"]
[
Jan 9, 2008: An Amazing Blunt Commentary on the Plunge Protection Team]
