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US stocks with a monster bounce – Dow with the strongest session since 1933

It was a great day for stock purchases, as markets were betting that Congress would provide some kind of incentive. There was also a close of shorts around the weekly support levels, which solidified the momentum. The best representatives in the SPX are L Brands, American Airlines, MGM Resorts, Norwegian Cruse Lines. Energy is the strongest sector today.

Each bottom starts with a rebound, but not every rebound is a bottom. With that being said, the bottoms are built on the back of skepticism, which further ignites the fire.

As for the chart, it is staggering just how small those + 9.4% look compared to the big picture.

The road up will be a long and difficult one.


 Trader Aleksandar Kumanov


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