Yesterday, we saw large gains in the S&P 500, Nasdaq, and Dow Jones Industrial Averages. While I would've preferred to see these big rallies come on overwhelming high volume that far exceeds the average, we did close on an increase in volume, which technically qualifies as a "follow-through day."
While this isn't a guarantee that we've seen the bottom of recent price action, it does add some credence to the idea that the recent lows may be a little more durable and hold for a while.
If the market turn is here, then now would be a good time to take some fliers on previously high-flying names that took a dip with everything else in the recent morass.
Today's trade is that.
You need to have a subscription to access this content in full.
