By Markus Heitkoetter
Stocks ended the day slightly higher with the S&P up 7 points and the DOW adding 10 points. The positive day was a welcomed change following the recent 3 day slide. The big question though, is the sell-off over, or was today just the calm before another storm?
E-Mini S&P traders saw most of the action in the first 2 hours of the trading session. There was an early attempt to extend the recent 2 day sell-off, but a late morning rebound pushed the market into positive territory.
Tech stocks got a lift today, with favorites like Facebook (FB) +2.18%, Amazon (AMZN) +2.93, and Yahoo (YHOO) +2.30% all up 2% or higher. However the daily picture still looks grim. Following the recent Power Crossover Method sell signals and targets, we’d like to see a clear change of direction before deciding on a market direction.
