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Originally Posted by coolhand

The market opened weak in morning trade, rose shortly after and leveled off until the early afternoon when the bulls pushed price into positive territory and closed out the day in the green. Sound familiar? Once again, a floor seems to be under this market.




So far, the 50 dma is holding. The reversal suggests the market may be ready to move higher again.

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Stocks tumbled on Friday, making it only the second time that we saw back to back losing day for the Dow and S&P since the start of April. New month / new direction? Or is this another one of those first of the month fake outs? The Dow lost 622-points and weakness in big tech took its toll on the broader market indices.
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