since 2008, sending it daily shortly after the market close.
The opinions expressed below are my own
The dip-buyers. They will not go gentle into that good night… despite what the bears want. The news today was dull but overseas equity markets were a little bit weak. We opened down small and the S&P spent the morning bouncing around, 7 handles lower than the prior close… hardly anything for bears to cheer about but unusual just the same.
Yesterday was a down session so a dip after a dip was just too good to pass up. The market started climbing a little after10:30 AM
and picked up the pace once European trading closed. Capital flow was 101%, a totally unremarkable amount of activity.The ultimate bottom line for the day is simply that the dip-buyers showed up. Like yesterday, they turned the tide intraday but they couldn’t flip the day into a positive.
It’s pretty dull stuff but it’s all we’ve got today.
Have a great weekend, Happy Veterans day, see youMonday
,-Mike