Short Term Trading New Year: 27 Dec - 1 Jan, page-28

Interesting that prior to trading on the US markets on Thursday, all indices on the futures market were well down around 1%. The close saw the Dow up by 1.1% and SP 500 up by 0.9%. Nasdaq had about half of that, but that index was already technically in a Bear market. Whether this will now be seen as an opportunity to go long, in a low price area, with Thursday confirming a pivot point, will need a third consecutive up day on Friday to show the rally has some credibility. The ratio of Advance/Decliners, for the SP 500 was not very convincing with no new highs on time frames of one Month and longer.