Yesterday's market action was negative.
The Nasdaq fell 0.3% making it five down days in succession. On the plus side it was good to see the S&P 600 finding institutional support around the 440 level.
This is the third time since the beginning of March it has found support at this level.
India matched the market and Russia and industrial materials outperformed. Leading stocks action was poor.
I mentioned in yesterday's DMU that on Monday the markets personality changed and yesterday's bearish behaviour helped to confirm my thoughts. However today's futures are pointing to a strong open for the Nasdaq due to tech giant Apple beating expectations.
Please note past performance should not be used as a guide to future performance, which is not guaranteed. Investing in the Funds should be considered a long-term investment. The value of the investment can go down as well as up and there is no guarantee that you will get back the amount you originally invested.
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