Yesterday's market action was neutral.
The Nasdaq Composite gained 0.6% on increased volume indicating mild institutional buying (Point A) albeit trade was below average.
The S&P 600 clawed back 0.4% on increased volume helping it to get back above its 200 day moving average (Point B).
Russia, India and global materials all outperformed for the second straight day. That could be a sign things are getting better.
Leading stocks action was positive.
My short-term stance remains neutral. I was quite impressed that the markets managed to stabilize on Tuesday especially after the recent weakness. I was also encouraged to see the market finding support without it having to fall further.
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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