They are sparked by big movements in the futures markets followed by heavy buying in key selective stocks that drive up the indexes.This struck me as an odd thing for the writer to assert. Yesterday's huge rally in particular was really, really broad. It wasn't just the indexes.
And pretty much everyone in the world expected a pullback today, and we only got it in the DOW.
Methinks this guy is writing what Daschle hopes is reality, instead of what is happening.