Helene Meisler writes a daily technical analysis column and TheStreet Top Stocks. For more information, click here. Meisler spent more than a decade on the sell side as a market technician covering institutional accounts at various investment banks in New York City, including Cowen & Co. and Goldman Sachs. In addition she worked at Cargill in Minneapolis where she managed equity money for three years. She received her bachelor's degree in business from Pace University.
Technical indicators hinted on March 21 that they'd jump.
Bonds finally backed off and sentiment cooled quite a bit.
I don't know why measured targets work so well. But they do.
While not perfect (or even logical), this element of technical analysis is a useful tool.
While cases could be made for bearish or bullish market direction, lots of swinging is more likely.
Breadth continues to hold, though the lack of red ink weighs on the oversold case.
Keep watch as breadth outperformed indexes for first three days of the week, while S&P barely rose and small caps outdid large caps.
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