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.
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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 [...]

Market gaped down and remained directionless around the 850 level until 1:00pm where a rally to test Thursday’s high took place. Price remained at those levels for a while but again took off to new highs around 3:00pm. This last mini-rally was somewhat negated by a sell off that took price to a level close [...]