As near as I can tell, the bears were attempting to take advantage of the indexes reaching a lot of technical barriers in a fairly concerted attempt to drive the market down.
At this exact moment (11:34) I think they blew it but I am just amazed at the war that gets waged over the market!
If this rebound continues then the bears have done exactly the opposite of what they were trying – they have clarified that Dow 10,700, Nasdaq 2,200 and S&P 1,225 are now floors.
Expect a lot of “Bull is Back” sort of rhetoric this weekend if we finish up more than .5% on the indexes.
