Last minute shoppers and short covering...

Watching the action on the tape towards the end of the day it was starting to look like the S&P was going to be testing major support (1438). And it did, the S&P came down to support and because there are so many people who use the charts just like I do here there was bound to be some kind of an attempt to bounce. And there was, some buyers started snatching up some of the bigger name stocks. Also, those who have been holding onto shorts saw the bounce from the support as well and they added to the last minute surge by covering their positions and taking their profits.

Does this mean everything is all over and we go back to a 'normal' market now. Not hardly. We have a ways to go before we have a healthy market again. The full market analysis tonight.