It was another trading session where it felt like the market hung in the balance and one push was going to send it into a free fall. Yet somehow the market was able to hang on.
Will tomorrow be the day it finally slips? Or is the resiliency a sign of a market that just won't quit? One that we've grown accustomed to since the March 2009 lows of defying each and every call for a sharp correction.
It was, as CNBC put it, 'a mildly lower session'. Those mildy mild trading sessions. Not enough spice to break a sweat, but you still don't want to spill any of it on your shirt.
Yes and the $AAPL plunge. That collapse of the largest company in the world by market cap that everyone saw coming. It's market cap has dropped by about as much as the billions the company is spending on buying back it's own stock. Amid the wreckage of this pull back, is the corporate share buyback machine likely scooping up shares at a discount to previous prices. Silent amid the carnage is all the analysts who've been quick to upgrade the stock in 2015. You know, the same ones who were downgrading the stock precisely at the lows in May of 2013.