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Stocks Reverse Off Lows But Can't Avoid Distribution
Posted on July 12, 2012 at 19:02 PM EDT
Stock indexes continued a back-and-forth battle around their 50-day moving averages Thursday with indefinite results. The Nasdaq fell as much as 1.7% early but then trimmed the loss to 0.8%. The NYSE composite shed 0.6% and the S&P 500 0.5%. The IBD 50 fell 0.2%, evidence that leading stocks behaved well. Volume rose across the board. The price and volume action slapped a day of distribution on each of the major indexes. Distribution involves a
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