The Tell: Why a 240-point rally for the Dow and stock-market rebound is ‘uninspiring’

Technical analyst Jeff deGraaf is unimpressed with the current attempt by stocks to punch higher after a sharp rally on Tuesday an apparent follow through in early Wednesday action.

The chairman of research firm Renaissance Macro Research suggests that a lack of real volume and breadth, or more sectors getting involved in the recent turn higher, has left him wanting more after a withering October for the S&P 500 index SPX, +1.09% the Dow Jones Industrial DJIA, +0.97% and the Nasdaq Composite Index COMP, +2.01%

“A sigh of relief fell over the street as the losing streak for equities abated near support at 2600 on the SPX.

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