Off the Charts

The S&P staged a half-hearted Red Dog Reversal in today's session, recovering from follow-through weakness early to finish narrowly in positive territory. Tech remained weak as the Nasdaq finished down 0.44% following yesterday's 2.00% drop. Although it's constructive to see the S&P find some semblance of footing, the action today was far from convincing from a bullish perspective.

As we have said since the government shutdown headlines began, less is more in this type of jittery environment. On one hand fear and panic could continue to increase leading up to the Oct. 17 debt ceiling deadline, and on the other hand stocks are getting into oversold territory where it's hard to press shorts. Maintain a narrow, stock-specific focus and don't be afraid to take trades more quickly than you normally would....386 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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