No Foolin' - A Support Bounce As Markets Break Above Monday's Highs

No Foolin' around this morning! After the first hour of trading the DJIA, S&P 500, NASDAQ and Russell 2000 indices have all made higher lows and higher highs in classic support bounce moves that we alerted you to watch for in last night's post. If the first hour's higher lows and highs hold for the entire day this will represent a change in the short term down trend. Gold and the gold bullion ETF (GLD) broke support with a lower high and lower low during the first hour. First Hour Action VRTX moving higher. URBN up. CAT up. AFL up. GLD down.