Desk Of Ramie: What Just Happened In The Market?
Last week we finally saw a more meaningful pullback in the market. The S&P 500 dropped about 5%... and then nearly erased the entire move by Friday. We closed down less than a quarter of a percent from where we opened Monday morning. The index found support right above 7,200 and bounced. What caught my attention was what led the recovery. It wasn't just the usual mega-cap stocks. The broader market and small caps actually led the way. That is what we want to see in a healthy bull market.
By Ramie Khalil