NEW YORK (TheStreet) -- Another wild ride in the markets on Tuesday. The DJIA
Algorithm-programmed machines are trading this market between the S&P Daily Trading Range. The individual, the retail trader, is being whipped around minute by minute.
As mentioned, the Russell 2000 index and the Nasdaq were both red and in oversold territory at one point on Tuesday. This allowed both indexes to reverse course and continue higher during the day. The Russell 2000 closed just about flat, down 0.02% for the day. The Nasdaq was up .19% at close.
The DJIA and the S&P 500
So, we have a two tiered trading market. The divergence between the Nasdaq and the Russell vs. the DJIA and the S&P is concerning. How long this can last is anyone's guess. Month end mark-ups are just around the corner.
One thing is for sure. This stock market is confused, but refuses to breakdown. A simple rotation from one sector to another is taking place that will allow this market to reset itself for a move higher.