Large gap higher continuing the last minute move from yesterday followed by consolidation at new high level for the year. Volume was a bit higher than the averagehe long awaited GM bankruptcy was filed but ironically the market attention was on data showing that the manufacturing sector is stabilizing. Dow Jones Indexes said GM will [...]

Large gap higher and an upward trend channel from start to finish with a little resistance at 900. Volume was average
Citigroup’s (C) upgrade of Lennar Corp (LEN) shares to “buy” and Lowe’s Companies (LOW) raising its full-year earning forecast fueled the rally into life again. The Chicago Board Options Exchange Volatility Index (VIX) fell 8.7 [...]

Market opened at R1 and rallied to R3 within the first 45 minutes. The rest of the day was a waiting game to see if bears either took control of the market or bailed out of positions. In the end price slightly trended up and panic covering took place in the last 10 minutes. Volume [...]

Market gaped lower but quickly recovered to yesterday’s close. The rest of the day was a choppy indecisive action around 858. Volume was low.
Government may require C and BAC to raise more capital. April’s CCI number was surprisingly positive. IBM increases dividend by 10 percent and prepares for a stock buyback.

Bizarrely, today traded exactly as yesterday including the Pivot Point bounce. The new high was at 875. Volume was high.
GE and C results plus the Reuters/University of Michigan’s consumer sentiment index rising to 61.9 vs. 57.3 two weeks ago continues to feed the market with optimism