The 2525 level of the Nasdaq Comp is worth noting. The broad market is attempting to shake off last Thursday's slide, but it is slightly messy. The COMPQ showed a day of distribution on Thursday the 10th, but one day of distribution doesn't wreck bull markets. However, with the optimism and bullishness being spewed left and right in the financial press and on the boob tube, careful investors tread lightly. It is always easier to buy when there is pain and fear, and I don't see and hear a lot of fear these days, except for the random AAII poll. That said, it is more important to watch the institutions, and the tale of the tape is where to look.
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