The MO for this rally has been more pathetic than most MO and always a weak sister to the MO of breaks, which are always monsters. But regardless of just how pathetic the Fed subsidized lifting has been in the DJIA, SP500, and NQ100, lets take a look back at the last great End of MO event.
On November 20th 2008, the downside MO which started in October of 2007, ended. Lows for the markets would not come until March of 2009 but the speed of the break ended on November 20th with the Vix high of 81.48. It closed yesterday at 15.84, 80.5% off the November MO Event. The DJIA's low on 11/20/08 was 7552 with a high yesterday of 12188 or 62% higher. The S&P500 augured into a low that November day of 745 and punched a new high for the move yesterday at 1320, of 77% higher. The Nasdaq, where all dreams become poo, slammed into End of MO with a low 1031.25. Yesterday saw a high of 2360 or a 128% higher.
The nature of recent rallies has seen fish feeding at the top as retail and long only managers suck in equities faster than downtick. They along with the usual suspects will flail into a buying stutter step in the coming days as this rally decides to take some MO twists.
