monday market malady, page-168

well, its a bounce at support. Short covering driven a lot of it of course. But its hard to pick holes in it as a bullish day at the market. Breadth was good in usa, volume was ok tho not exceptional. There were no major retracement milestones made, such as breaching an older high or getting above .38 or whatever. Mostly it probably shows that there is support at the old high at spx 1460. The 200 ema daily hasn't been tested and that is probably yet to come. Market obviously expecting economic data due the remainder of this week esp the employment data on Friday to be good. Fair bet cos the employment data has usually showed there is still employment growth in usa. I'm interested to see now whether there will be a more bullish attitude from xjo, specially whether cash will discount the futs at the open as has been the usual. I like 'exakerly syndrome' as a worthy new addition to the traders dictionary too, thats the real news of the night session I think. :-)