Pasta Boss, It has been a similar story for week after week. You can add the bond market to the don't believe in economic fairies crowd, no matter how many times the good folks at CNBC ask the audience to really believe in the Fed and save Tinker Bell.
But there was record buyback cash, the CTA models reversed from short to long and the pension funds keep re-balancing and of course just plain old fashioned short squeeze.
A much smaller percent of the public has self directed stock investments and I am guessing a lot of those folks are either retired, or close to it and they just don't want to be put through the ringer of another great financial whatever major selloff.
I circled where the EMA hit a trend line on the way down. My experience is that is a pretty reliable signal if your trend lines are close to OK. I don't know if the same happens on the 5 minute charts.
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