Dip-Buyers Remain Resilient
Although breadth is running around 2-to-1 negative, we continue to have some impressive underlying support. We are back up to the highs of the day once again, and I'm a bit surprised that the dip-buyers are this resilient. Typically, dip-buyers become less confident as bounces are turned back, but so far, there appears to be a pretty high level of compliancy despite some good excuses for more energetic profit-taking.
Unfortunately, holding up doesn't do much to create new opportunity. Unlike Friday, when the Facebook news hit, we don't have any significant pockets of strength to change. A few big names such as Apple (AAPL) and IBM (IBM) are driving the indices, while the bulk of small-caps are struggling....85 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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