Man oh man what a day. We traded like mad dogs out of the gate and went up to fill the gap left from last friday and that made alot of bears cover. Why wouldn't they we basically moved 200 DOW points in an hour of the open and everything seemed ok for the bulls till 3:10 when we reversed the action. You dont see alot of days like this and it was definitely special as now we will see who is the strongest here and now, the bulls or the bears.
The bulls wont give us easily but they need to rest but the bears don't seem that confident because everyday we get a sell off at the end of day the following day the bulls take it back.
Here and now the battle truly begins as most of the important earnings are out of the way and the TARP news seem to be fizzling away now the true market will present itself at least for a short period of time.
Watch the action in the first 90 minutes tomorrow it will be crucial!!!
MARKETJEDI
Wednesday, April 22, 2009
Remember
Remember folks dont want to confuse anyone - We can still pullback to 790 area or so on the S&P and still be in a bullish formation so dont get caught up on a pullback till the bullish pattern is broken down and negates the upside
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