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Stocks Avoid Distribution, Massive Intraday Support

May 17, 2008

Crude Oil was above 127 for much of the morning sending stocks lower. Fueling sellers was a poor reading from the University of Michigan. Consumer confidence hit multi-decade lows as Fuel Prices and the Housing Market are weighing on the minds of Main Street. For those with opinions sold on the news most likely thinking we are headed back for the lows. However, dip buyers began pushing the market higher and by the end of the day had lifted stocks from distribution levels. Volume was helped … [visit site to read more]

Stocks Avoid Distribution, Massive Intraday Support

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