The Dow recovered a little bit of Fridays decline. The Nasdaq continued to fall. Bank stocks along with Internet and e-commerce companies were hit today. Banks can't seem to catch any type of a break lately but are showing signs of selling capitulation. Solar energy stocks got hit hard again today despite the rise in the price of oil.
Oil and Gas stocks were among the strong performers today. Chemical stocks and steel producers also fared well. U.S. Oil and Gas exploration stocks had some of the biggest volume gainers.
The market obviously isn't quite ready to move higher. However it seems like a lot of the bad news out there is priced into the market already and there certainly isn't an overwhelming amount of optimism for the market which is also a plus if you are a contrarian investor.
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