I am joking a bit in the headline, but that was the rally? The market's gain of about 30 basis points in value in yesterday's trading was just limp. Most of the gains were predicated on the nearly 1% increase in value for discretionary stocks.
Worse still, demand remained tepid at best. The gains in yesterday's trading look largely due to just churn and a general selling exhaustion, whatever does not go down must go up. Worse still, the gains in equity prices resulted from extraordinarily weak volume levels overall. I still would not be surprised to see a viscous nap back to the upside, but for now sellers rule the roost.
Worse still, demand remained tepid at best. The gains in yesterday's trading look largely due to just churn and a general selling exhaustion, whatever does not go down must go up. Worse still, the gains in equity prices resulted from extraordinarily weak volume levels overall. I still would not be surprised to see a viscous nap back to the upside, but for now sellers rule the roost.
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