Groundhod Day Again And Again
Yesterday, we wrote about the major stock indexes declining in the first half of the trading session only to bounce higher throughout the afternoon. Well, it happened again today. The same exact pattern repeats nearly every trading day since mid-December.
The trading volume in the SPDR S&P 500 Trust (NYSEARCA:SPY), and the SPDR Dow Jones Industrial Average (NYSEARCA:DIA) remains extremely light. The light volume will generally favor the upside as there are simply no institutional sellers to take the market lower. Traders must enjoy this inflation rally while it lasts.