Don't Be Fooled by Bouncing FAANG Stocks, We Haven't Seen a Market Bottom

The indices are seeing some minor support that is preventing downside momentum from building. However, the action does not indicate that market players are still extremely anxious to buy the dip. One of the keys to the market action for months was the aggressiveness of the dip buyers. Quite often they were so eager to buy pullbacks that they never materialized. That is key to the market and is shifting.

While there are still dip buyers out there, they look more like strategic traders that are inclined to flip quickly. We also have our friends the computer algorithms, although the buy-the-dip programs have been shifting. The big shift was rotation into new groups and out of technology rather than the standard buy-the-dip approach....209 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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