Midday Market Look

Well we got the flush, problem is it happened so fast it was tough to lay into anything.

What an amazing day. Maybe I’m getting older, but they give you less and less time to get the lay of the land so you can start some logical nibbles on stocks. We were down 1000 points on the Dow and rallied almost almost the way back, giving little time to do much of anything.

It was mostly algorithms so don’t feel bad. I always feel bad if I feel I missed something, but I hate catching knives sand I cant pick bottoms.

I’ve talked abut V recoveries in the past and I wonder if we haven’t started yet another one. Nothing bases, the bottom just drops out and then it moves higher again.

Below is a chart of what I mean.  This is the new normal for this market, so we have to see if the buyers are sticky or if they decide to fade the strength and call it a  day later.  More tonight.



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