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Originally Posted by coolhand

Given the strength of Tuesday's rally, it probably shouldn't be a surprise that Wednesday saw more strength. Breadth and volume appeared to be indicating that the move was not transient.




We can see that price has now closed above the 200 dma on the S&P and is sitting on that key average on the DWCPF. Volume was a bit more robust than the previous session.

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Stocks started the new holiday shortened week with a breakout above some key levels on the charts, but the close was a slight disappointment. The Dow gained 530-points, while small caps outperformed again. The Nasdaq was suspiciously weaker than the rest of the market, and bonds and gold were down as we might expect after a 500-point rally.

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