What caused the market to move up today so much?

[voyz]

gday,

i didnt hear the news this morn and when i got home saw everything was green massively. anyone know what caused such a rise??

cheers

sorry if this is a stupid question

 

[Trembling Hand]

I believe it was a Gann swing high from the alignment of the full moon and Uranus.

Very reliable indicator. Works every time.

 

[skyQuake]

Lol, we had a gann guy come in today and do a pitch.

Had pretty good track record, and turned out he wasn't really using gann as much as other stuff.

________________________________________

US rallied, commodities rallied, 'bounce back' from yesterday's heavy selling.
Volume was fairly light though which is a concern.

 

[gfresh]

[Tinfoil] I have a feeling it was big overseas institutions, happy to let the media run rampant with bad news for a week or so.. and in expectation of "shocker financial results" from the US firms, let everybody feel nervous for a little bit.

Although what they really did is start buying on the 8th of July, knowing full well ahead of time (being the very same ones releasing these supposed "shocker" results), that they weren't so bad, or had window dressed them so damn pretty they were practically smiling

So today, they stop selling their little titbits, allowing the market to "magically" rebound on "great news" regarding the financials for a day (or several).. selling into the general punters to allow them to plan whatever else they like to do next.[/tinfoil]

 

[beerwm]

might just be me... but im feeling bullish over the next month.

everyone is expecting a down leg - have their short positions picked out/ sold of their longs. - expecting bad reports/ yada yada.

but consumer/business confidence is UP [and rising] - which i think is the most substantial indicator - which sorta works as a snowball

market up => confident => market rises more => more confident

just my 2cs.

 

[matty2.0]

US markets.

I think shorts are taking money off the table ahead of earnings season. Just to be safe.

 

[Charlie Whiskey]

US markets.

I agree, which begs the question - what is causing the US market to make such a sudden U-turn? The market seemed to have turned around BEFORE any company results were released. Was really only a recommendation from a single analyst? S/he should have a go at the US presidency in 3 years!

 

[MRC & Co]

Goldman Sachs better than expected earnings rumours.

Lot of Asian institutions who set up short positions Monday, taking them off the table after being squeezed overnight.

Would be my guess.

 

[matty2.0]

I agree, which begs the question - what is causing the US market to make such a sudden U-turn? The market seemed to have turned around BEFORE any company results were released. Was really only a recommendation from a single analyst? S/he should have a go at the US presidency in 3 years!

lol ... I don't think Whitney has that much power. Despite some of her prior accurate calls. But ... ya never know ...

My feeling is that shorts are just playing safe and taking their pre-existing positions off the table. They'll come back.