Market Digests Data, Bulls Go On Big Run

Coming into the cash session today, the S&P 500 futures slowly regained some momentum after moving higher into the opening bell. By the time the bell sounded, the S&P 500 futures had fully recovered from the previous session losses. The session opened right around where the sell-off began yesterday during the midday turn around.

At the opening bell there was once again indecision surrounding the direction of the next leg that the market would make. This could have been anticipated considering the open level was where the market made pivotal decisions the prior session.

After consolidating around the opening levels for the first hour of the market open, the bulls had returned and broke through the high of day. The bulls had clear control of the market. The bulls put on a steady pace to the upside and never looked back. For the next few hours the market took a steady approach, constantly pushing new highs on the day with no real sign of bears taking over.

Heading into the last hour of this trading week the market just kept trucking higher.

This bullish action with no real slowing down came on the back of bulls into the close. The S&P 500 futures closed up 1.64%, gaining 68 points, while the Nasdaq futures closed up 1.90%, adding 253 points.

This was a strong close to end the week after the market digested all the economic data that was released.