Markets had another mixed day today with SPY and Russell closing green while Nasdaq100 closing red. We gapped open higher today in SPY but then kept on selling and never breached the opening highs. SPY is struggling with its 50dma if SPY can continue to consolidate while having small down days the overbought conditions may be worked out as I suggested in Fridays post. Tech and Oild lagged today while financials/retailers had a positive day today. Noticeable strength was witneesed in genreic drug makers today which could have few updays going fwd , most probably on Obama's healthcare plan.
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