However, the limited follow through from buyers today does suggest there is some concern that the market may have run too far, too fast,
"SOME" concern??? GEE...YA THINK??!! ha ha ha
11:30 ET Dow -23, Nasdaq +31, S&P +0.40: [BRIEFING.COM] Buying efforts have stalled in the past half hour as the major indices have reversed course, resulting in a mixed market... Tech stocks remain the focus as traders continue to believe that they will outperform in a near-term market rally... However, the limited follow through from buyers today does suggest there is some concern that the market may have run too far, too fast, and that it is due for a period of consolidation... If tech and financial shares can maintain their positive bias, the market won't be consolidating for long... In any event, watch the performance of those two groups to gauge the likely direction of the broader market... NYSE Adv/Dec 1303/1450... Nasdaq Adv/Dec 1695/1299. |
