The big players in after hours earnings reports – Ebay (EBAY) and Netflix (NFLX) – were received very favorably, and has helped push the futures into positive territory in after hours trading. I’ve provided for you below a chart on the S&P 500, looking at the intraday movement from the past 10 days using 30 minute candles. At the very least the bears managed to push the markets just a shade below yesterday’s highs, even though they were broken on an intraday basis. Despite all of this, the response from the bulls today, couldn’t have been better. For now, they seemed to have regained control of the markets and make yesterday’s sell-off look more like a buying opportunity rather than any type of significant pullback.
Here’s the chart analysis on the S&P.