Interesting action today in the market, since the opening the bears where in control, until around noon time, where the index broke above it's daily range and yesterday's close, before a Fed's official mentioned that interest rates should be raised to prevent another collapse in the economy.
The market reacted quickly selling off 12 points from the high of 1189.60 to 1177.25, but interestingly enough, heavy institutional block buying, brought the index back up 5 points from it's low's to close at 1182.53
On the 60' chart a long tail caused by the heavy buying is visible.
Jobless claims tomorrow morning should dictate the market's direction.
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