Market Wrap 3/10/09

Major rally across all the stock markets today. DOW +5.8%, NASDAQ +7.07% S&P 500 +6.37%. Big numbers, but the market is so low it doesn't take much to move the markets when it gets some money behind them.

Today was a 90% up day, the McLellan Osc. turned up above -200, the Mc. Summation Index's downward thrust has pulled back. The S&P closed up above the 9 day EMA.

And I made money today! APOL chewed up a lot of profits, I was determined to make a trade with it, but it wouldn't behave for me. Not a good way to trade and it showed.

The newz was that Franks said they're pushing to revive the uptick rule. Whoo-p. Like it will change anything. And Citigroup said it was profitable for the last two months. Just as their stock was cheaper than a McDouble.

What does a big rally look like?