Market losers like the NASDAQ Biotech ETF and the small cap names in the Russell 2000 have recovered and are leading the market higher on Monday. Ben Willis of Princeton Securities points out that the Dow was lagging in the early trading session, but was showing signs of a turnaround at midday, while trading volume is very light for a Monday. Willis notes that the idea of selling in May doesn’t seem to be taking hold as each sell-off finds support and buyers return quickly. Today’s move is back to small cap names and the S&P 600 as investors rotate once again.
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