Eager pullback buyers | stockbee

4/17/2013

Eager pullback buyers

This market has had a bid underneath it for some time. Every pullback gets bought aggressively. We saw that yesterday where buyers wasted no time in falling over each other to buy the dip.

However the big drop on Monday may have changed the dynamics of such move. Small caps had one of the biggest down day supported by breadth on Monday. That kind of damage is difficult to heal. It will require lot of aggressive buying.

As of now this puts the market back in wider range. 

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