Tuesday, September 27, 2011

Two Days, and Already Almost Up to Resistance

The S&P 500 is about 15 points away from the first resistance, up there at the 50 day moving average.  We've cleared well over 4% for the 'week' (a day and a half).

Some funny comments on CNBC from Steve Liesman - this rally essentially started yesterday afternoon around 2 PM after he was used as media leak broke the news of the latest grand plan for Europe.  Today he is out saying if the market is rallying on my rumor, it is ahead of itself.  Just have to love this market nowadays.

“if the market is going up on my rumor, it is ahead of itself.” 

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