The Challenge Grows
Given that the market was a bit technically extended and the news flow has been mostly negative, a pullback today wasn't too surprising. Breadth was around 2-to-1 negative and Apple (AAPL) was a glaring weak spot. But what was most trouble was the lack of energy. The toughest markets to trade are those where there is a high level of indifference and that is what it felt like today.
The bulls have been encouraged lately by the market's inclination to ignore bad news but that only works as long as enthusiasm levels stay fairly high. With earnings season winding down and no real catalysts on the horizon, it is going to be tough to generate sustained upside momentum....100 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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