Thursday, December 2, 2010
Groundhog Day? + 7.5 ES Points
Wall Street rallied for a second day on Thursday as concerns about Europe's sovereign debt crisis waned, giving investors the chance to add to positions in winners among banks and retailers. More than two stocks rose for every decliner on the New York Stock Exchange, with bank stocks leading the way after Goldman Sachs said improving economic conditions will favor that sector. The European Central Bank allayed some concerns of a growing euro-zone crisis with hefty purchases of Portuguese and Irish debt. The European Central Bank, however, said it did not plan to increase the size of its liquidity program at this time.
Another great day. We'll let our charts do the talking.
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