We've had many buy programs hit. I monitor the TICK and it's gone above +800 an awful lot today. Looks like the big money is pushing us back up Sentiment could be turning bullish again after the market consoldated from its recent gains. Damn, another buy program just hit as I'm typing this..
Institutions don't want to take their lumps in fiscal 05...the systemic issues should come to fruition in 2006. January earnings is going to be a critical time in the market.
well...the market pulled back a tiny bit, not enough to make any real money off of. Dow down 7 points since beginning of last hour.
TICK hit 1478 today, according to stockcharts. That's the highest reading I've ever seen on the TICK. Tomorrow should be another up day, imho.
This is somewhat reminiscent of Jan 2, 2001. However that day the Fed organized a mid-day pre-emptive rate cut. I say similar in the sense that the action was near vertical, panicked and quite an enormous range for these low vol. times.
US markets are the most manipulated in the world!! FED minutes released just in time. And they say no need for more rate hikes; no inflation! Blah, blah, blah!! --> gold & oil tells you the true story today. What you got today was a short covering rally, nothing else.
Market looked sad today, oil up and holiday spending not great. Construction and ISM numbers were not good either. It really lost that overnight gap. It rallied into the 2 pm FOMC release so I suppose there was a feeling it would lift the market. Nice save. God bless the fed.