Almost a complete close-the-gap move in the first 80 minutes followed by a nice upward trend for the rest of the day. Volume was well below average.

S&P 500 Index 5min Chart

-

S&P 500 SPDRs 5min Chart

CIT Group Inc (CIT) reached a deal with bondholders for $3 billion in emergency financing and the index of leading economic indicators increased in June for the third straight month, suggesting the recession is drawing to a close.

Strict Dow theory marks today as the start of a bull Market in the weekly charts of the DJIA and the DJTA.

S&P 500 Index Daily Chart

Filed under:
Market by LtPinback | Permalink | Share This