Friday's late day short-covering rally was due to what James Bullard said on Fox Business regarding economic growth for the rest of this year and next. He expressed a very bullish outlook for the economy and employment. He was expecting the US economy to grow at 3% or higher and he saw no chance of recession this year or next despite aggressive rate hikes by the Fed. Of course someone like Bullard, a super hawk, has to talk like that to justify his super aggressive stand against inflation.
DJI: Dow Jones Industrial Index EMA: Exponential Moving Average
DJT: Dow Jones Transportation Index PDL: Primary Downtrend Line
NAZ: NASDAQ Composite Index PUL: Primary Uptrend Line
RUT: Russell 2000 Index ASL: Active Support Line
OEX: S&P 100 Index ARL: Active Resistance Line
NDX: NASDAQ 100 Index DTL: Dynamic Trend Line
TUL: Tentative Uptrend Line TDL: Tentative Downtrend Line
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