Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
For the second day in a row, we’ve had a nice swing up to end the day – although today’s was more powerful than yesterday’s. After coming within sniffing distance of the 20 day moving average, the S&P 500 is currently back to the area we noted as important at 1404. Seems like a moth to a flame on the close the past 2 sessions.
Certainly more excitment than necessary the past few sessions. Someone coming in and only looking at the close is going to think of it as a very benign session.
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