Market Analysis (25 March’21)

U.S. stocks rose Thursday afternoon, averting a third consecutive day of declines, as the economic picture continued to brighten.

TODAY’S THEME: BULLISH REVERSALS

All of the key indices dropped below their important short-term support levels today in the morning, however, the drop enticed buyers to step in and bid prices higher. As a result, the market staged an impressive comeback into the session close effectively creating bear traps across the board.

Dow Jones, 1h

S&P500, 1h

Russell, 1h

Nasdaq, 1h

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