Wednesday, March 14, 2007

The Markets Today

What a difference a day makes. The markets were in much better shape today. Here are the SPYs, QQQQs and IWNs.

Photo Sharing and Video Hosting at Photobucket

Photo Sharing and Video Hosting at Photobucket

Photo Sharing and Video Hosting at Photobucket

All of the markets started rallying at a bit before noon. All closed at or near their highs for the day. The QQQQs had a nice volume spike at the end.

I will add that today does feel like a technical bounce rather than the start of a new rally. Traders are conditioned to buy on the dips. In addition, no market goes down forever so some rebound is almost always in order after a large sell-off.