Quote from Decel:
1st hour high @ 905.75... If it goes there and bounces back up it'll be very bullish...
ISM numbers were low no? Are we ignoring bad numbers to celebrate the new year?
What we see here is classic bear market rally as all bad news and very bad news are ignored. These news are not factored or priced into the market. They are "ignored".
The "greed" factor and "irresponsibility" of some fund managers will focus on one thing only - Things are cheap now! Buy more to lower average cost! Will win big as the market comes back!
Sometimes that work. Sometimes does not.