Thursday Outlook: The Good and the Bad

A rally like Wednesday's was expected and also suggested as a possibility in yesterday’s last paragraph. Let’s face it - markets were oversold and ripe for some kind of bounce, large or small. And yesterday’s rally was supersized.

Two of the three problems facing markets got some help Wednesday as oil prices continued to fall and there was a “shred” of good news from Wells Fargo. That was enough to stampede the herd.

Inside the numbers conditions were good although I thought NYSE volume was moderate considering the day. Anyway it appears NASDAQ breadth was strong enough to qualify for a 90/10 day when 90% of stocks advance along with 90% of volume. But, I’m not confident in Yahoo’s data so I’m posting it and that from the WSJ.

click to enlarge


























































Go to page 2 - Commodities, Emerging Markets >>

Comment on this article >>