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All three major indexes are set to close up by more than 2% on this Tuesday. It is truly a remarkable day for the bulls as just 24 hours ago, the market looked so fragile that even a straw may break it. The main trigger cited for today’s rally was Wal-Mart’s better than expected earning and guidance. Of course, if this were 10 days ago, even ten Wal-marts reporting results at the same time couldn’t generate the same effects. The market deserves a short-term rebound anyway. However, it is still too early to say this is a true reverse or just a sucker’s rally. Just like three months ago, this week contains both option expiry date and hedge fund withdrawal deadline day. So we may need to wait until next week to see where it will bring us. |
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