Daily Market Commentary: Sizable Rally But No Volume
Wednesday's finish offered bulls their day trade opportunity, but the volume wasn't really there to suggest something more than a bear rally. However, the overall trend remains on the side of the bulls - so bears will need to remain cautious despite the past week's action. However, the S&P did close well above the 20-day MA, in what could have been an attack point for shorts. Resistance at 1,880 is next with the 'bull trap' at 1,898 after that. Technicals are mixed, but stochastics suggest bulls still have control.