Not Sure Where This Rally Came From Today
April 24, 2008 9:49 PM
I need to review some stuff tonight and see exactly where this rally came from today as it didn’t seem to make much sense. News was not great, to say the least, chart was very mixed at best…and yet we moved higher. Surprised me. I did mention early the other day that I was not sure of the market direction so really did not have an opinion either way…but still, it was suprising. My guess is the dollar gaining some strength and oil coming off it’s highs gave us a small relief rally…but still does not make much sense.
We have not had a short or long term reversal off a high however, andI I am ALWAYS skeptical of any highs or lows that are not clearly rejected.
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