Now that’s what I call a rally. The S&P 500 surged +4.2% today, its biggest one-day gain since October 2002. Remember that date? It was the bottom of the last bear market.Yesterday, I went out on a limb and said that it was likely that the "Bear Stearns Bottom" would mark the lows for the market. Today’s action solidifies my views.From a technical standpoint, I think that the SPX came close enough to my 1250 target to satisfy me. We also had a 90% up day (90% upside volume on NYSE) last Tuesday, and then again toda[...]
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[Source: The Money Blogs]
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