The first of trading day in 09, market rallied about 3%, followed rallyies in overseas. Light trading day, after initial dip, ISM number was much worse, it rebounded, ISM number was dismissed. Though out of the day, trading was light, price line on the chart was very smooth. Huge put interest in SPY, much higher than usually volume, not a good sign for betting the stock will go down. Before noon time, market hit a resistance, and no sharp drops, price just hover under the resistance line for a while. Again and again that has been proven to be a bullish sign. Though out the day, there is no choppy price movement, and the market just kept going up. No sell off either at the closing, which I think that everyone are betting that the market will do well next week.
Unlike yesterday, when the market hits the top level of the day, huge increase in trading volme, and price gets very choppy, and market sold off after market is closed.
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