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Minyanville's T3 Daily Recap: Apple Leads Market Resurgence
The market roared back to life Monday building on Friday's reversal and posting its biggest gain in more than two months on hopes of a US budget deal. The S&P gained 2.0% to reclaim its 200-day moving average and the Nasdaq jumped 2.2%. Politicians on both sides of the aisle are striking a more conciliatory tone in fiscal cliff negotiations and stocks don't seem to be too concerned about the escalating conflict in the Middle East. Friday we got a classic outside bullish (or Red Dog) reversal a pattern that often leads to a short-term bottom in the market. ...
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