Which Way Wednesday – Beige Books And Strong Bounces
April 16, 2014 at 09:33 AM EDT
As you can see from Dave Fry's SPY chart, we went up in the Futures 30 S&P points and then we fell from the open 30 S&P points and then we recovered into the close 30 S&P points. This is what we call a "Bugs Bunny Market," where Bugs throws a switch and people stamped in and out of the theater - and it's not usually a good thing.