First Real Up Day Of 2008!

Well, today marks the first real, significant, up day in the stock market for 2008. :) A couple of great earnings releases really encouraged some investors to jump right in for some speculative cash this earnings season late in the day. However, it seems like participation isn't all that impressive as bond yields continue to drop across the board, as the flight to quality continues. Even though it was an up day, it really did nothing to reverse the bearish trend so far, at least not yet. Tomorrow's jobless claims and wholesale numbers are likely to point to more recession and probably erase all the gains we saw today, just like it did late last November. HOWEVER (and that's a BIG however), if the market should close yet another significantly higher day tomorrow, ideally beating the high of 8 Jan, we could see that reaction rally all the way to the 30WMA that I have been talking about for days now. Fingers crossed.