Yesterday’s trading session stood out because the sellers were in control and the dip buyers seemed either taking a snooze or having left for vacation. Easily the biggest losing sector was the Financials.
While yesterday's action was negative, things can turn on a dime and the action does not necessarily mean that the dip buyers are now giving up.
But we have been saying that the market needs to digest gains and work off overbought conditions. And, quite honestly, the market can move lower without seeing any real technical damage.
The FOMC news may give the market more action today – but whatever the market reaction, we would wait for things to settle before taking the move too seriously. Be careful out there.
Profile
- Judy Chaffee
- This site is the inspiration of a former reporter/photographer for one of New England's largest daily newspapers and for various magazines. The intent is to direct readers to interesting political articles, and we urge you to visit the source sites. Any comments may be noted on site or directed to KarisChaf at gmail.
No comments:
Post a Comment