Solid Action but No Momentum
Despite the poor action in Apple (AAPL), the indices held steady and breadth was close to flat. There continues to be solid underlying support but buyers aren't as willing to chase. While the action was solid, there wasn't much momentum. We had a few short squeezes but a dead-cat bounce in precious metals was the best sector action.
While it wasn't a very interesting day for traders, it was healthy that we consolidate a bit more going into the bulk of earnings season. Flat action now gives us a good foundation for the next move....143 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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