The Dow Jones Industrial Average and the S&P 500 hit intraday highs Tuesday with the Dow up 153.10 points and the S&P 500 up 11.73 points as the Nasdaq Composite hugged the flat line.
Jim Cramer told Action Alerts PLUS senior analyst Jeff Marks that it’s simply one of those strange days on Wall Street.
Cramer said there were a lot of technical analysts that thought markets were going to roll over, which led some to heavily short stocks.
"This is a cover day," Cramer said.
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