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Before the Bell: Here comes the big relief rally Add to ...

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The Before the Bell report is compiled by editors of The Globe and Mail and is updated throughout the morning to reflect latest developments. Colin Cieszynski, Chartered Financial Analyst and Chartered Market Technician, is chief market strategist with CMC Markets.

The market situation for U.S. traders returning from the Martin Luther King holiday has improved dramatically since last Friday. A big relief rally is now underway, suggesting that Friday’s panic selloff was a selling climax and with weak hands having been shaken out, the path appears to be clear for a rebound. The big question now is whether early gains can be sustained through the North American day to confirm the turnaround. 

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