For the past fortnight, the days that we saw strength the underlying strength was missing and now that we see weakness, the underlying weakness is also absent. Although negative now, it's taken half a day for the internals to turn sour as they were mixed all morning.
We are seeing a breakout in PAAS today and a short squeeze developing there. That's the one bright spot in the market today for me personally. There are plenty of stocks up and down big as has been the case of late due to earnings mostly. These boards are pretty red today though and late day strength today seems like a pipe dream. I do expect some sort of push to occur here somewhere soon, but I expect they will sell it back down today. The one bright spot arguing for a push is that oil has come back in as they head towards the close.
We are seeing a breakout in PAAS today and a short squeeze developing there. That's the one bright spot in the market today for me personally. There are plenty of stocks up and down big as has been the case of late due to earnings mostly. These boards are pretty red today though and late day strength today seems like a pipe dream. I do expect some sort of push to occur here somewhere soon, but I expect they will sell it back down today. The one bright spot arguing for a push is that oil has come back in as they head towards the close.
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