Friday, June 29, 2012
The Markets gapped down hard yesterday. But breadth on the downside was only marginal. Just when the sell off seem to accelerate some sort of rumor from the Euro zone seem to trigger an upside reversal. I must admit in the last 45 minutes it was an impressive reversal. Again breadth was lacking in the upside reversal as well. We will have to wait an see how this reversal to the upside plays out. The markets will offer plenty of opportunities on the long side if this reversal is for real.