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May 12, 2008 Stock Market Recap

Posted on May 12, 2008

Buyers really seemed to be on a mission today as they took the market up from the open and pretty much never looked back. The one problem with today s impressive price gains was that volume was on the light side. The big tests I see coming are the indices at their 200-day moving averages. I think we ll need much more volume to make it through those important resistance lines. We saw how the Dow failed at its 200 DMA last week. It looks like the Nasdaq is going to try its luck with its 200 DMA soon it s just over 1% away.The S&P is bouncing right off of its March trendline. That...

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