Market Monitor Update, Wednesday, 04/08/2009 09:25:47 AM EDT
by Jane Fox
HAVING TROUBLE PRINTING?
The bears took control of the overnight session as soon as it opened. I was watching the futures last night as they were falling and I thought we were going to see blood on the streets this morning. Before I went to bed I took a look and saw that the selling had mostly stopped and price was in a consolidation, which I thought would lead to more selling.
Lo and behold this morning the bulls were able to come back with a fury and bring all the markets we watch here in the Monitor back to new ON highs.
This kind of buying strength is one of the main reasons I remain bullish, along with the price patterns and MACD divergences that is.