It was a shaky morning, but the results of the Spanish bank stress tests were a sufficient excuse for a little dip-buying. I also suspect that we still have window-dressing action taking place. It has been a terrible quarter for active money managers and they simply can't afford to let any gains slip away in the waning hours of September.
I'm a bit surprised that we had such extensive weakness in the early going but that is a sign that sentiment is slipping. Buyers just aren't feeling as comfortable with aggressive dip-buying right now and there continues to be deterioration in my individual chart patterns, including the mighty Apple (AAPL)....121 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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