Today feels like a slow motion capitulation day. Seems like there are no sellers left, and a bunch of slow steady buying. Wonder if we go green?
I do not expect a true capitulation. There is too much negativity from the momentum whore folks that will not be quick to pull the trigger on purchases. (That may change if we go green, as I think that may make many to cover their shorts.)
Regardless, today is a very interesting day. While the move is sharp, its a slow and steady rise off of market lows.