Quick Note from Blain: Heads up! Tomorrow we will be sharing a link to our Q1 2013 Reader Satisfaction Survey. Please keep an eye out for it, thanks!
The S&P 500 once again bounced off this wider range support level it has been traveling since mid November, with yet another strong bounce - the Pavlovian dog response to this level is becoming something very interesting to observe. That said the violence of movement both up and down of late is not characteristic of a stable market and differs markedly from the action in January through latter February 2013. For the day the S&P 500 gained 1.43% and the NASDAQ 1.50% on what appears to be mostly a technical oversold bounce. There was some decent housing data but nothing concrete enough to generate this type of move.