After Tuesday’s huge up day (I saw freaking 7-10% gains for some banks and brokers), yesterday could be termed as consolidation, though after Bernanke’s testimony the markets turned downward for modest losses.
Now I think most people are worried or hoping that this rally will continue. Here are some charts of volatility and advance/decline. These charts show that we are at a critical juncture.
And one last chart of volatility: the CBC put/call ratio.
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