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February 16, 2012 at 20:03 PM EST
Support Holds, Indices Rally Sharply
The stock market indices had a stellar day today, with a long rally after a mixed opening. When it was evident the indices were not going to fall through to the downside, they just exploded, and took off in a strong rally that lasted from early on until mid-afternoon. At that point, they consolidated, but still managed to firm up near the close, and closed at the highs for the day going away. The Nasdaq 100 had bounced back from a low this morning of 2551 to as high as 2595, and the S&P 500 from under 1340 to 1359. [More...]
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