Impressive comeback end of Friday as all Indices surge back up and end in GREEN. Dow closed up around 225 points off it lows in the last hour of session. Same kind of bounce back in $SPX and Nasdaq came back a bit as well, having fallen in technical BEAR MARKET territory during the session.
Expected AMBAC bail out by Banks next week is the clue here and hopefully that story helps shake out fears about and avoid deeper credit problems in the markets at this time. Rally ahead will depend on confirmation of above rescue early next week.
Inflation and Stagflation are the new buzz words floating around everywhere.
Let us wait and watch the rally play out.
Have a great weekend.
Harry
