It's early yet but the Dow is starting off on an up note again this morning. 6 out of the last 10 sessions have been up days and we have recovered 600 points. That's good news but can it continue?
Personally I am hopeful but cautious. The administration stopping a great deal of the "we are all gonna die" rhetoric and the fact that GM refused the 2 billion dollars it had requested for March as well as some of the banks actually posting a profit in the last couple weeks are all good signs. If the trend holds we may have turned the corner.
On the other hand the quarter ends for many companies on March 31st so between April 14th and 21st is when we really need to be watching. If quarterly results are bad look for another freefall.
Update: Looks like I spoke too soon. Immediately after I posted the Dow dropped to - 60 some.
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