Stock Market's Midweek Dip: Temporary Blip or Start of a Larger Pullback?
The sudden dip in the U.S. stock market on Wednesday has left traders and analysts uncertain about whether it was a one-day event or the start of a significant pullback. Technical analyst Mark Arbeter suggests that many stocks, particularly in the technology sector, are overextended, leaving few attractive options in the near term. While the market had been overbought, there were no bearish momentum divergences or weakening breadth indicators. However, Arbeter notes that a pullback would not be surprising, but based on price and breadth, the bull market appears to have further room to grow.