Monday brought a big volume day which closed green across the broader markets. The day came off the lows during lunch and never looked back, regaining 50-100% of Fridays losses (depending on which index you look at). A very strong showing for the bulls on this accumulation day, one of the strongest day since 2003. Now some of this was short covering, positioning ahead of the FOMC announcement, new money for August and just normal market action looking for bargains in beaten up sectors. Oil tumbled on the day down $3.78 to close at $71.70 a barrel. Go[...]
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[Source: The Money Blogs]
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