The market chopped around early and managed to finish strong. After hours, IBM could not hold the initial pop, but INTC, VMW, WYNN and a slew of other companies are picking up the slack. In the past year, sideways movement on light volume was good for the bulls. We are looking at another potential gap up tomorrow morning on some good earnings and holiday spirit. How well we hold tomorrow morning’s gap will tell us about the health of the current reflexive bounce and Monday’s large gap down area comes in at 132.04 on the SPY.
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