Trader's Daily Notebook: No Panic, but Not Much Interest Either

Equity markets struggled Thursday as all major-index ETFs finished in the red on slightly higher than one-month average volume. That said, the selling never had a panicked feel to it. Rather, there simply didn't appear to be any interest in buying the dip. For those keeping track, the SPDR S&P 500 Trust (SPY) and iShares Russell 2000 ETF (IWM) have joined the PowerShares QQQ Trust (QQQ) in closing beneath the 50-day moving average (MA).

We entered Thursday's E-Mini S&P 500 futures (Es) auction with 2419.75 to 2422.25 as the primary support area bulls needed to defend, and buyers were nowhere to be found. Take a look at Thursday's intraday chart below....383 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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