MF4: It's too soon to tell. We have to watch what that 200 day moving average in the S&P at 1106-ish. If the market takes that out with volume the rally could last a little while. The Dollar is pausing, having gone from a Dollar Index of 88.71 down to the close today at 87.18. Some of this is a retracement of the Euro.
My best case scenario would be a strong open tomorrow that kisses the 200 day but doesn't surpass it, then a slight pullback during midday trading, followed by a strong sell off going into the close by traders who don't want to hold through the weekend. I still think we have one more strong sell off that takes out the 1044 support and then the 1000 level to really shake out the weak hands. Then we can have a meaningful rally through the summer. I can't see the market having the juice to sustain a rally just yet.
But I've been wrong before. There is always the X-Factor...that clandestine Fed intervention. That's hard to factor in.
News 
Market Data 
Discover 
AI
