A Lot of News, But Markets Looking Good Headed In To The Close

3:22 PM ET Yesterday’s large losses  were retraced in their entirety and then some in today’s session, which has been run by a tactical rally that has been exacerbated by short-covering activity.  Since retracing the losses, the averages have gone into more of a consolidative mode as 3C suggested as likely earlier today. Price didn’t…