I had to leave before the market closed, so I was thrilled when my colleague texted me in my meeting and told me the SPX recouped all of its losses.I though the action in the market was meaningful today. I am seeing tons of upsided reversals in stocks and etfs on enormous volume. This is usally meaningful technical action. Look at some of the price-volume action in the likes of: ITA, IAI, IDU, IYE, MXI, EFA, EEM, etc. They all look like exaustion selloffs to me. I would go so far as to say that I believe the market put in a sol[...]
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[Source: The Money Blogs]
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