But let's not get ahead of ourselves. Here's a 7-day 10-minute chart. It shows that today's action was a nice upswing, but we have a lot of ground to make-up.
And here's the daily chart. We had decent volume, but the last two days we had a ton of selling, so today's action should be placed in that perspective. The index did rebound off its 200 day SMA which is a good sign. But today's action can be attributed as much to a technical bounce as anything. We need to see how the week plays out before we start popping the champaign corks.
1 comment:
Can you please comment on this FT artcle:
http://www.ft.com/cms/s/041c1122-3ed1-11dc-bfcf-0000779fd2ac.html
My ignorance about credit markets is large.
Thank you, great blog.
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