And The Rally’s Over
It was nice while it lasted as we moved 115 points on the S&P (1270 to 1385) from top to bottom; 200 points on the Nasdaq (2200 to 2400); and 1000 points on the Dow (11,700 to 12,700).
This kind of intraday reversal, as always, is telling. It means that there’s a lot of sellers at the top of those ranges and not a lot of buyers.
Now we probably go back down and test the lows from last week.