Market Overview

Eerie Two-Day Bounce Foreshadowed Downside Continuation


The market accelerated to the downside late Wednesday morning, restesting the 21-day moving average that held last week. The S&P is down 1.3% as it appears the quiet two-day surge to start this week was nothing more than an oversold bounce. Monday and Tuesday had sort of an eerie feeling to them, and although the indices bounced back most charts were still looking sloppy.

Commodities have...

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