Task cut out for dip buyers | stockbee

5/30/2012

Task cut out for dip buyers


The markets have had 13 down days and 6 up days in last 20 days. The attempt at stabilization at this level is normal behavior after back to back selling days.

Today the gap down will test the buying pressure. Let us see if dip buyers step in.

A series of buy days like yesterday can be constructive. A failure of the move will probably result in volatile range like we saw last year for some months. 

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