Again today we get a lesson why I continue to stress that selling short is risky and not worth the effort. Central bank printing presses are just too big to fight. The obvious intervention this morning has probably terminated the natural drop into a daily cycle low. The PPT is going to try to protect the market from retesting the 200 DMA. They aren’t going to make the same mistake they made in December and allow the market to generate any downside momentum.
It shouldn’t be long before the Dow is making new highs. Once it does the rest of the market will soon follow.