Buy The Dip: Markets Swell Of Lows With 30 Minutes Left To Trading (DIA, SPY, QQQ)

It seems as if the buy the dip mentality continues to work, as the major market averages are well off their lows. At last check, the Dow was off 130 points, the S&P 500 was lower by 13 points, and the Nasdaq was down 28 points. At their lows of the session, the Dow was off 240 points, the S&P 500 was lower by 20 points, and the Nasdaq was down over 50 points. This comes on the back of ratings firm S&P changing its outlook on U.S. debt from stable to negative, though the firm did keep its "AAA" rating on U.S. government debt. S&P is a unit of McGraw-Hill MHP.