There’s some serious buying on weakness going on today, with the Dow Industrials having improved from a drop of 85 points at one point to a mere 19 right now, currently at 10,908.
But words of caution are offered this morning by Bespoke Investment Group, who note that yesterday’s 2% decline was the first day since September 2nd of last year that the S&P 500 saw the number of new lows, four, outpacing the number of new highs, which was three.
Perhaps significant because new lows outpaced new highs when the bull market began, but of course one day does not make a trend.
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