The major indices all ended the day in positive territory, but it wasn't easy. The NYSE had 1179 gainers to 1837 decliners, but strength in banks, oil and chips offset the weakness in small-caps and commodities.
The dip buyers weren't particularly energetic and volume was quite light (but it was enough to keep the bears from pressing). The bears appeared to be a little complacent, but that is understandable given how little success they've had lately.
This sort of action is a healthy way to consolidate recent gains and relieve overbought technical conditions, but I'm not convinced the bulls are going to be able to really get this trend hopping again without more rest.
The indices are holding well and there still is no reason to be bearish, but there are a few chinks in the armor and the buyers are slightly hesitant.
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