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Feb.24
9:29 PM ET
Tuesday, 24 Feb 2009
Divining the Market's Direction
Posted By:Tom Brennan
Topics:Ben Bernanke | Stock Picks | Stock Market
Sectors:Oil and Gas
Companies:Home Depot Inc
Wall Street analysts and pundits alike are grasping for reasons to explain Tuesday's 236-point rally in the Dow. Was it the Bernanke speech? A surprise quarter from Home Depot [HD
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]? Maybe a turn in oil?
Actually, none of those reasons are right. Today was all about the technicals. While fundamentals investors might not have seen this move coming, the chartists sure did. Some very specific things caused the pop, and Cramer wanted to make sure that investors used it to their advantage.
Watch the video for a technical analysis of the market right now and how to plan your next move.
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TOPIC : Stock Picks
SECTOR : Oil and Gas
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