fundamental, i will still say that buying was off a selling exhaustion bottom on 4/14, markets don't go straight up or straight down, we need to consolidate the massive move of the week of 4/14.
just look at MW's chart, on 4/14 we had mdd posts comparable to the october 99 bottom, big vix, big from page saturday spread in the newspaper, all the elements for a bottom.
no ppt, just an oversold market with some cash build-up that needed to consolidate. I wouldn't base any of my trading on some phantom PPT or market manipulation, i doubt there is anybody with enough money that can control massive amount of traders big and small out there, herd sentiment drives the market and the herd sentiment is flailing about gapping up and down like crazy lately, haggets seismochart of volatility might be the best predictor of the coming financial quake.
CRAPS during the first quarter 00 we had a 2000 point drop in the dow, then a 34% slide in the nasdaq and still during the whole process there are above 50% bullish advisors, AND during the damn process of the nasdaq going down 34% you have people pouring money INTO agressive growth funds,
IT AIN'T SUPPOSE TO HAPPEN THAT WAY, AT BOTTOMS EVERYBODY IS BEARISH AND TAKING MONEY OUT.
the market is extremely complacent, and dangerous, no PPT, no big boyz can control the tide of human emotion.
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