Thursday, March 22, 2007
This Bull Is Still Not Dead & Gone
With the FED holding rates unchanged, the market rallied, and boy, did it ! The session low was at 1421.00, the point which I mentioned last night at 10:59pm, as a "Matched Support, showing weakness in the current down move". This level held its ground & turned out to be a spring board for the rest of the Trading Session. The ES hit an intraday high of 1449.75 (a difference of 28 pts from the low & the highs of the day!) before easing to close at the 1445.00 area. On a swing basis, we are definitely back on the "Bull Train" ! This Bull ain't dead yet, baby!