Yesterday's market action was neutral.
The Nasdaq Composite dropped 1 2% on below average volume. Falls on below average volume indicate a reluctance to sell from institutional investors.
The Nasdaq Composites big brother, the Nasdaq 100 displayed resilience by falling less than the other indexes. This is a good sign because if the market was likely to go lower, the 100 would normally fall more than the other indexes. With it falling less, it tells me we may have found a bottom.
India, Russia and global materials underperformed.
Leading stocks outperformed.
After Tuesday's one step up, the market yesterday took one step down. However today is day eight of a new rally attempt which means it's still not too late for the market to follow through.
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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