Dow +176
S&P + 23
Nasdaq +23
After a shaky start, the market rebounded nicely and held its gains into the close.
The Breadth of the rally was strong as shorts have clearly lost control of the market....at least for now.
Today's gains basically erased Friday's selloff. The next two days should be interesting as traders position themselves for the scheduled Fed meeting and decision on interest rates on Wednesday. It is widely thought that the Fed will cut the Fed Funds rate another 1/2 point at that meeting.
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