Volatility at it's max, the market closed down yesterday and continued selling into the aftermarket session reaching 1055, but this morning it had turned around and was gapping up +20 points into the opening bell and the buying continued all day long into the closing reaching 1103 right at the 200 day moving average resistance level, a gain of 3.25%
The ADVN/DECN index remained at the same level all day around 13 to 1
The good news is that closing above the 1100 level should attract some buyers, but with the volatility we've had lately, there are a lot of bag holders that were short trying to get out at this level and that could cause the index to turn around.
Monday is Memorial day, so expect low volume tomorrow as most traders will be leaving early for the Holiday.
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