Today on the Marketbeat: Greed re-enters the market

Market #'s @ Closing Bell:

S&P: +54
DOW: +500
NASDAQ: +83
Rus2K: +27
TSX/S&P: +423
$VIX: -3.51


Internals:

Core Sector List: 16/0

- NYSE -
BREADTH: 29/1
AD LINE: 2484

- NASDAQ -
BREADTH: 13/1
AD LINE: 1740

Today on the Marketbeat: Greed re-enters the market, Welcome back 800

Today the waiting came to a dramatic close as the billion dollar bailout package finally was passed and the markets met this news with a huge gap up on the opening bell. The buying didn't stop there as markets ripped up on a slow upward grind for the whole day. The day ended with a solid fundamental gain of 800 on the ES futures (S&P500). This has been a huge psychological level on the overall markets as this is the first time we have closed above it since Valentines day.

The internals were a bevy of bullish levels as the day closed 100% bullish. The Breadth closed at its highs and AD Lines tacked on some big gains as seen above. The Vix shaved off 2.5 and the Core sector list finished 16/0.

What I am looking out for is the market to hold 800 by tomorrow's close. After such a big bullish day we can expect to see a pullback off profit taking, but if the market holds 800 by closing bell then that puts us in a good position to continue this rally.

Happy Trading
the Marketbeat