Poll: What's your take on today's rally?

What's your take on today's rally?

  • Dead cat bounce

    Votes: 53 71.6%

  • The start of another bull run

    Votes: 21 28.4%
  • Total voters
    74
"caught the bulls off guard"

I read that short interest on nyse was down last month, my take "it caught the shorts off gaurd".

Secondly, Re; continued bull market? I'll stick by the Traders almanac and the presidential cycle. The market still has a ways to go up.
 
Quote from makloda:

We need follow through either way. Either a huge down day to new lows or one or two sideways sessions and another 1%+ upside day. Both are equally likely in my book and until either materializes I am net equity neutral.

Today's rally was impressive looking at up volume % and breadth. NYSE: Up Vol* 2,874 (93%) NDAQ 1,845 (93%).
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When I woke up this morning the Dow Mini was up 100 points on 5000 contracts. Volume today was the lightest since the sell off.

I would be more impressed with the bulls if we opened down a tad then rallied all day. The bias was up today but 2/3 of the gains came overnight.
 
"if there is a recession you should just forget about what the almanac says"

Forget history. What is important is todays news and who says it and how it'll be defined a "recession".
 
i think its got legs
from my perspective the institutions got long and defended well

lets see if they can hold it the rest of the week
 
I say we go higher, sellers just gonna stpe aside for now. I bet we finish the summer below where we are now though.
 
Today, the up-volume compared to the sum of up- and down-volume posted by the NYSE (up/up + down) never dropped below 80-percent up volume and closed out at 94-percent up volume. Think of this as a volume weighted advance decline line. There was a lot of buying today. My chart is an overlay chart of the S&P 500 and the up-volume percentage for the last few days.

I post this chart late in the morning each day at my blog, ww.hartleandflow.com.
 
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