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Minyanville's T3 Weekly Recap: Back to Normal for 2013 Market Rally?
The market recouped a good portion of its losses from Wednesday and Thursday and the S&P (INDEXSP:.INX) reclaimed its 8-day moving average during today's session putting a bullish spin back on stocks. The S&P closed below its 8- and 21-day moving averages for the first time in 2013 this week but the fact that we quickly recovered above them is a sign that bullish sentiment remains intact. Dip buyers appeared eager to take advantage of what amounted frankly to a very modest pullback. The S&P finished the day up 0.88% while the Nasdaq (INDEXNASDAQ:.IXIC) bounced 0.97%. Scott Redler talks ...
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