13-Nov

The market reacted positive after washing out those Oct. lows, but that was a bit too text book style!

There did not seem to be any news as a ctalyst for the reversal so this seems to be a pure technical reversal, almost too classic of an example.Now the market must show some strong upside follow thru, this does not need to be another 1 - 2 day pop! After breaking the October lows on the major indices huge buying came into the market as institutions appeared to be willing buyers. At the end of the day the DOW was up over 550 points. The range during the day for the DOW was over 911 points. You could see the intraday collapse and buyers pulled their bids as the market washed out the lows. Within about 20 minutes of the break, the largest volume spike of the day appeared and this marked the low of the day. What immediately followed was a V type bottom intraday and huge volume began to come in as the market never looked back rallying some 900 points.

You are unauthorized to view this page.

Subscribe to Our Updates

Terms of Service | Privacy Policy | Refund Policy

SpikeTrade © 2024. All Rights Reserved.