Today’s “everything up” market follows similar action yesterday. Big rallies on rumors of a EuroTARP, loads of short-covering and end-of-quarter window dressing, you can see it everywhere.
I’d remind you that this is classic bear market action (monster rallies like this usually take place in the context of bear not bull markets) but why be redundant? Oh well, I guess I kinda just did remind you while musing aloud if I should remind you…
The 11am look below (data from Dow Jones):
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