Quote:
Originally Posted by donsutherland1  Wall Street’s Bull lives for another day…
After having dipped to as low as 11,183.43 (-166.58) during early afternoon trading, the Dow Jones Industrials roared back to close at 11,382.26. That was +32.25 from yesterday’s close. With the Dow Jones Industrials gaining ground, that major stock market gauge remains above the Bear market threshold of 11,331.62. |
[emphasis added]
"roared back?" You are easily pleased, sir! Unless you are being a bit facetious and I'm just not picking it up! 32.25 is approx. an 0.28% gain. Thats not a "roar" according to my trader's dictionary.
With employment data due on Thursday (instead of Fri because of the holiday), the market likely to tread water until then. Down numbers have been pretty much anticipated already and discounted into the prices, so on the release of the numbers, one could see either a relief rally (because the numbers are no worse than expected), a real honest-to-god shoot-em in, buy'em all rally (the numbers are really
substantially better than expected), or perhaps even a--need I say it? a resumption of the waterfall (the numbers are even worse than expected).
Personally, as of this moment (that means for the next couple of minutes or so), I'm expecting the numbers to either as expected or somewhat better (for the economy) than expected, and we'll see a brief but sharp uptick resembling a rally. But, said uptick will at some point during the day be met with renewed selling and the market will close essentially unchanged to up just a bit.
Just my opinion at the moment. YMMV.