There is no economic data, earning data or fiscal cliff issue that matter to the stock market. It has become habit but every good news = rally = every bad news. Its running on hopium of something will be done by December 31st. US is now 7 billion away from hitting debt ceiling of 16.394 trillion. All the news media is promoting the belief that US deadline is February 1st because Treasury will start using "extra ordinary measure" to survive till Feb, which is default. I would still suggest ignore this rally and sit on the sideline. Its very risky market. If you look at the chart, recovery is higher and bigger then sell off. Because the price action is so fast, it will be very difficult to catch unless you ignore the news and follow the trend.
AVOID THIS MARKET. I'll start giving resistance level for trading once market become little normal to trade.
|Sell off and recovery chart.|
After Hour Earning:
After hour Gainer and Loser:
|Knight Capital Group Cl A||KCG||81,065||3.44||0.11||3.30||3.45||3.28|
|Apollo Group Cl A||APOL||14,625||21.01||-1.14||-5.16||22.19||21.01|