Dip Buyers Rescue Market Again, but Where's the Leadership?

Market players were a bit worried this morning, but the dip buyers showed up and prevented downside momentum from building. The Russell 2000 ETF (IWM) was flat for most of the day, but the S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ) drifted upward most of the day.

Despite the benign action intraday, we still ended up with only 2,000 gainers to 4,750 losers. In addition, there were 175 new 12-month lows to 150 new 12-month highs. We haven't had more new lows than highs in a while, and it's noteworthy as it shows how momentum has died recently....200 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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