A 362 point drubbing yesterday for the Dow Jones Industrials capped a two day decline for the market. Two constructive days of weakness for the market just after touching fresh record highs, que the top calls.
S&P500 futures roared higher over night to new record highs. This came on the heels of an unusual and sharp overnight sell-off. Unusual is probably the best term to describe any sell-off these days, which means this market is still trending higher. The "ludicrous" recovery yesterday from session lows, is the same type of "ludicrous" action we've seen the last 8 years.
Good morning. Futures are bouncing this morning, and have now recovered 50% of yesterdays afternoon decline.
What started out as a modest to moderate decline, accelerated to something just a little more as the session came to a close. Yet the Nasdaq and the Russell ended the day in positive territory while the Dow and S&P500 ended down in a modest fashion.