It's Not a Top Yet
The market had its first decent dip in a while and the buyers didn't waste any time taking advantage of the lower prices. As I've mentioned before, the sort of action that we've seen since the gap up on the European Central Bank earlier this month has created a large supply of underinvested bulls anxious to buy weakness. The methodology of many institutional investors is to buy pullbacks in their favorite stocks, and this market has not given much opportunity to do that.
It is often said that market tops are a process. After a strong move, the first few dips are almost always bought, but when we continue to have pullbacks and the bounces aren't as vigorous, the character of the action begins to shift and eventually the supply of dip-buyers dries up and we start seeing lower lows....136 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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