This Is Not a 'One-And-Done' Correction

Since March big moves in this market have typically seen a reversal the next day. The bears in particular have done a poor job of following through after some success. Today we had another example of this as a hesitant bounce in the morning gained strength in the afternoon. Breadth improved from negative to nicely positive by the close.

Normally after the sort of selling we had on Wednesday, technicians would be looking for an oversold bounce and then another rollover. The theory is that the folks that were caught in the breakdown will be happy to unload some of those positions that caused them anxiety if they can obtain a better price and minimize losses. That is what overhead resistance is all about....231 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.