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Originally Posted by coolhand

The bears took price lower today. The action started out negative in morning trading, but price rose from opening lows and peaked about 1 hour after the open. The DWCPF was positive at the peak. But after that, it was a choppy ride downhill till midday and then a feeble attempt to recover that failed.




Price on the S&P is now testing the 50 dma. It's holding for now, but I'm not confident that will last.

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Stocks rebounded on Thursday after Wednesday's surprise sell off. Point-wise, it was a good day but the rebound wasn't all that impressive as the indices closed well off their earlier highs. The Dow ended the day with a gain of 300-points or 1%. The S&P 500 had a similar gain and the Nasdaq lost a lot of steam in the final couple of hours and gained just 0.50% after closing about 200-points of its high of the day. Bonds were down, as was the dollar.

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