It sure seemed like the market was going to collapse under its own weight this morning but buyers stepped up around 2:00 to push the indices back into the green. Volume picked up on the upswing, so the bulls should be happy about that. According to Briefing.com the buying was due to "short-covering, buying ahead of index changes". Whatever the reason it was a pretty dramatic change of direction. Today's action seems like a good start of another leg higher. I imagine quite a few bears got trapped today... let's see if we get any follow-through.
