NEW YORK ( TheStreet) -- Although two of three major indices closed lower on Tuesday, all three pared losses into the close, and market watchers say that's a sign of resilience.

"What we're seeing -- the action in the market -- is typical of the beginnings of a bull market where you have these dips and people rush in to buy stocks again," says Peter Cardillo, chief market strategist at Avalon Partners. "So it's a good indication that the rally has further to go on the upside."

The Dow Jones Industrial Average fell 11.79 points, or 0.1%, to 9096.72, and the S&P 500 was off by just 2.56 points, or 0.3%, at 979.62. The Nasdaq gained 7.62 points, or 0.4%, to 1975.51.

Stocks have shown resiliency following double-digit gains in recent weeks, with the major indices staging late-day recoveries on what would otherwise be decisively down days. Still, "better-than-expected" results are wearing thin on investors who want to see signs of growth.

One glimmer came from the Standard & Poor's/Case Shiller home price index, which rose 0.5% in May from April. It was the first monthly increase in almost three years, beating expectations for an 0.5% drop. Sales are still down 17.1% year over year, although that's less severe than in April.

But that data was offset by a report by the Conference Board, which said consumer confidence fell to 46.6 in July, down from 49.3 in June and lower than the expected reading of 49.

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