Just when the market looks its worse, it’s the Fed to the rescue.
Shorting the market is just plain harder then buying. It’s instances like this that make short sellers nervous and triggers sharp rallies off lows.
Today’s heavy buy volume is enough to recognize that a potential pivot point has been set, a point from which we may rally from.
Whether of not the Fed’s $200 billion loan it has promised to give financial institutions does any good is another question entirely.