Selling Into Strength
The market managed a little Monday morning momentum before being smacked by the very poor ISM report. In the battle between technicals and fundamentals, the fundamentals took control with that news and now we have to see if the bulls can regroup and gain back their momentum. The news was really quite poor, so it is going to take some effort by the buyers. Plus, the thin trading will keep it choppy and random.
Even though the market reversed hard on that ISM news, the action is still quite mixed. Breadth is running 2,300 gainers to 2,700 decliners and biotech and banks are leading while oil, chips, steel and gold lag....93 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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