Holding the Early Lows
The action has improved since this morning, with breadth moving up to about 4-to-1 negative and selling momentum is cooling. Although the market is holding the early lows, it's drifting around randomly. Apple (AAPL) is back in positive territory for the third time intraday, but buyers are obviously skittish and the dip-buying is very limited.
Unfortunately, most stocks are not recovering as well as AAPL is, especially small-caps. The problem is that many of the charts are busted, and oversold bounces are likely a means of escape from trapped bulls rather than the start of solid lows....116 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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