Finspiration Australia. Great turnaround last night in America.

 Overnight.

Dow Jones +0.29%.  SP500 +0.28%.  Nasdaq +0.63%.  Small Caps +2.26%.  Banks +0.96%.

MarketWatch, a U.S. market commentary site, described the turnaround as one for the ages, best since 2008.

SP500.

Last night's turn-around was, indeed, extraordinary.  At one stage, SP500 was down over -3%.  It recovered all of that and a bit more.

This is following the script I set out in my Weekly Wrap on Sunday.  This turn-around has come out of nowhere.  What's changed?  The Fed will continue raising rates.  Covid continues to cause concern.  International tensions over Ukraine/Russia and China/Taiwan remain.

At the moment, Bulls are cheering, Bears are gnashing their teeth.  

We'll have to wait and see if my script plays out to the end.  

After 25 minutes of trading, Australia's XJO is down more than -1%.  So our market doesn't believe in the big turn-around