The bulls were on track for their best day of the year but the bears were able to trim their losses in half before the close. We mentioned Sunday night and again on Monday morning we would have to watch an opening pop and flop and while we can’t discount the rebound, we wanted to see the bulls hold resistance and to end the session with a bigger bang after extending their Tuesday win streak to 20-straight.
The Dow dashed 106 points, or 0.7%, to close at 15,409. The blue-chips kissed a high of 15,521 and were up 218 points before the fade into the close. Near-term resistance remains at 15,500-15,600 while support is at 15,200. A close above 15,550 could signal a challenge to new highs.
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