The Flippers Are at Work and the Bears Are Hopeful

After a vigorous two-day rally, the momentum has slowed, but small caps are outperforming. The main area of weakness is Apple (AAPL) and its suppliers, which are seeing a "sell the news" reaction to Tuesday's big new product event. I suspect this group will find support fairly fast, but at the moment the flippers are at work and the bears are hopeful.

Breadth is running a little negative and the number of new 12-month highs has dropped to about 140 so far. That is nothing unusual when the market becomes technically extended....160 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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