Yesterday's market action was positive.
The Nasdaq Composite pulled back 0.17% in below average volume (Point A).
It was classic healthy behaviour after four up days on increasing volume the market needed time to rest and catch its breath. Tame trading levels indicate institutional investors were sitting on their hands and reluctant to sell stock.
Although most of the market indexes lost ground it was good to see the Nasdaq 100 reversing the trend and ending the day in the black after bullishly reversing off it's lows (Point B).
Leading stocks action was positive.
Yesterday may have been a healthy pullback however if the market does pullback further from this point I would like to see the big players stepping up to the mark and buying stock around the 3134 level on the Nasdaq (Point C) and the 472 level on the S&P 600 (Point D).
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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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