Last-Hour Rally Pares Losses DramaticallyBy Harry Boxer, The Technical Trader (www.thetechtrader.com) A last hour rally saved the indices and brought them back from theabyss, as the indices were at the lows for the day with just an hour togo and it was looking like another ugly close. But the deeply oversoldintraday condition resulted in a late snapback rally that I’m sure wasfueled by short covering as well. The day was volatile in the morning. They came down hard early on,snapped back hard as well,[...]
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[Source: The Money Blogs]
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