The markets staged a very strong snapback rally from an oversold condition that didn’t surprise us, but the steadiness of the move, particularly in the afternoon, and the strength near the close was very impressive.

The markets ended lower today, not by a lot, but considering we were up sharply at the opening the indices closed rather poorly on the session. After that sharp opening, the market went into a 3-wave decline that lasted for most of the session, although they did bounce in the last half hour or so to take them off the lows for the day.

The markets got some additional volatility today, but in the afternoon the bears took control, knocking the market down sharply. A bounce in the last hour brought them off the lows, but net on the day the indices were lower.

We had some volatility again today, but the indices had a very strong close.

The markets finally gave it up and slid sharply lower at the end of the day, closing at the lows for the day going away.

The markets exhibited some volatility today with a weak opening and a strong mid-morning rally, another pullback in the afternoon and then some final-hour strength that pulled the indices back into a mixed position.

Monday was basically more of a continuation of what we had Friday in terms of a consolidation.

We had a strikingly similar today to yesterday, only the difference was the market gapped up sharply at the opening for most of its gains for the day.

The indices had another positive session and extended the rally. The strongest part of the day was early on when the indices opened strong and reached their peak after about an hour and a half.

The indices had an extremely strong session, particularly in the afternoon when they rallied from the session lows to stage a strong 3-wave rally, putting them up near the key resistance levels of the last week or so. That rally came as a result of release of the Fed Beige Book notes, which Wall Street interpreted as positive for equities.