Indices Rally Back from Steep Morning LossesBy Harry Boxer, The Technical Trader (www.thetechtrader.com) The indices had a topsy-turvy session. They gapped down big at theopening, and then after a brief bounce hit the lows for the sessionaround an hour after the opening near 1700 NDX and 1282 SPX. They had asharp bounce after S&P announced they could see the light at theend of the tunnel on the write-offs for the banks. A sharp rallyensued, and they then retested successfully, held support just aroundth[...]
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[Source: The Money Blogs]
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