26/05/2009 Will spending follow confidence?

Posted on Tuesday the 26th of May 2009 at 22:07 by LtPinback

Market gaped lower and was moving to close the gap when the Consumer Confidence number came out at 10:00am and basically sparked a large rally. Toward the end of the day there was a bit of selling but the day closed almost at the HOD. Volume was average.

S&P 500 Index 5min Chart

S&P 500 Index 5min Chart

S&P 500 SPDRs 5min Chart

S&P 500 SPDRs 5min Chart

The U.S. consumer confidence number had the biggest monthly jump since April 2003 and market responded positively.
S&P 500 SPDRs 5min Chart

S&P 500 Index Daily Chart

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