Today on the Marketbeat - Citi gets $, Obama discloses plan & team

Market #'s @ Closing bell:

DOW: +362

S&P: +48

NASDAQ: +82

RUS2K: +32

TSX/S&P: +413

VIX: -10.43

INTERNALS:

Core Sector List: 15/1 - Bulls

NYSE

AD LINE: +2350

BREADTH: 12/1

NASDAQ

AD LINE: +2000

BREADTH: 16/1

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Today on the Marketbeat - Citi gets $, Obama discloses plan.

Well if your a bull, a day like today would make you smirk. Now we've seen more than a hand full of big bear market rallies, that looked promising, but only sliced through our hopes like the support it went through the next day. Today's price action has a nicer tune to it. Now whether this is the bottom or not, is not really my center of focus, what is however is the fact that the markets broke the downtrend line today. If we can see the market hold a 50% retracement of today's price action, or even better an extension on the rally, it could spell some problems for the short selling bears. 

Under the hood, the story was a bit of the same, bullish everywhere but on the VIX. The Breadth put in some good numbers closing in around  / to the bulls, as the AD LINE tacked on some gains for a change up over 2000 ticks on the NYSE, and up  on the NASDAQ. The Trin looked gorgeous making lower lows all day along wit the bullish trend, and finally the tick spent a majority of the day above 0, giving traders the idea to stay long, since its the way of least resistance. 

The trend of late day rallies/breakdowns continued today as was the fad the last couple of weeks. The market picked up a big size of its gains on the opening and in the last hour of trading. The S&P moved 20 ES future points in the last hour, and ripped down those 20 points, for a pick pocket move, moving back up, as the last hour continues to be the most volatile hour in trading.