Monday, Sept. 12, 2011 4:47 PM – Markets Turn Around to Close Higher

The markets came back down to and slightly below the low of a week ago and then shot up 2% from there near the end of the day to finish 0.7% to 1.1% higher for the day. That is purely technical chart-driven trading having little to nothing to do with news. Last week’s roughly similar blip only lasted the better part of two days before turning down. We’ll see what happens this time.

Europe was down -2% to -4%. Gold was down -2.2%. Bonds were down as well.