Technically, It's Not a Bear Market
Although we are not technically in a bear market, the action today was a good illustration of what one looks like. The market opened poorly and managed to bounce but the strength was used as an opportunity to sell and the close was very weak. Breadth was very ugly, with 3,600 decliners to 1,800 advancers, and if you were looking for some pockets of leadership or momentum, you would have a very hard time. Even the mighty Apple (AAPL), which has been under relentless pressure, couldn't hold a bounce again.
The folks trying to predict a market turn were again proven wrong and have more losses to show for their efforts. Their arguments may sound convincing, but until the market starts to care, it doesn't much matter how brilliant the bullish arguments are stated....161 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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