Leadership Is Still Lacking
There is no obvious market catalyst this morning, but we have been seeing some heavy selling pressure on poor breadth. The market finally managed a slight bounce, but players are quite skittish and are hesitating about doing much dip-buying.
Technically, the gap on the SPDR S&P 500 (SPY) chart that was created by the European Summit bank bailout news has now been filled; however, there still isn't much underlying support down to the 200-day simple moving average, which is at 1136 on the S&P 500....133 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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