Tuesday was a spectacular day for the markets. Wednesday’s big stock charts focus on the worry that it might have been a little too spectacular.
Indeed, the Dow Jones Industrial Average saw its biggest gain on a percentage basis since 1933. The S&P 500 rallied over 9%. Whether due to hopes for a federal stimulus package or simply a market that had become too cheap, buyers rushed in.
But to skeptics, the size and pace of the gain is a concern. For many investors who lived through 2000-2001 or 2008-2009, this doesn’t quite feel like the kind of trading seen at the bottom.