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Can someone explain yesterday's divergence between the OTC
and the SnP's? During the afternoon hours the Nasdaq and the
Russell 2000 went sideways to up while the SnP's kept registering
new session lows. The Russell 2000 actually rallied sharply from
a low at 359.10 at 1:20 to close at 363.60: an UP move of 1.25%.
How or why were these indexes rallying in the face of a weak
SnP? Also, noticed that the intra-day advances on the NYSE
were near their highs for the day near the close. Any comments
or explanations are welcomed. Maybe it is a two word answer:
short covering?
Charles
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