Need to Know: ‘Sell the rally’ replaces ‘buy the dip’ as battered market enters critical week [MarketWatch]
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Source: MarketWatch
‘Sell the rally’ replaces ‘buy the dip’ as battered market enters critical week Where have all the dip-buyers gone? After weeks like the train wreck that just passed, investors are supposed to come along and scoop up bargains, right? That’s been the norm for decades, after all. Alas, it’s not the norm any more, as you can see from this Wall Street Journal chart : Indeed, the reliable “buy-the-dip” trend that made this market so dependable has left the building, with the S&P 500 SPX, -2.33% , on average, failing to rebound following weekly declines this year for the first time since 2002, according to Morgan Stanley. The start of the week certainly looks no different. Trade-war skittishness and uncertainty over the Fed’s direction aren’t helping . It’s got the look of another downbeat start. The Onion, which says we’re in an “Everest/Mariana Trench pattern,” channeled the White House with its tweet on what we’re seeing: At any rate, the lack of those aforementioned dip hunters has c
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