Strong technical bounce off the bottom of the downtrend channel.
Rumours abound that BP is close to plugging the Gulf oil leak, with the word quietly out so that the same insiders who sold shares, and even went short the sector and region ahead of the public disclosure of the problem and its severity, can cover up and go long.
But that's a rumour, so let's see if they really do finally solve the problem, and if stocks can break up threw that resistance where they stopped near the close, and take on the next level of resistance a little higher up.
"You are the very cause of your ignorance, yourselves. You put away the light, yourselves; you first pluck out both your own eyes, yourselves; and after that other men’s too, so that the blind may lead the blind, until you both fall into the pit.”
Thomas More, The Sadness of Christ (Gethsemane), Tower of London, 1535