Indices Cave in Steep Afternoon Slide!By Harry Boxer, The Technical Trader (www.thetechtrader.com) The markets had what in my mind is a huge negative downside reversaltoday, and it came suddenly. The day started out with a surge to theupside with strong pre-market futures. The market opened strong, workedits way higher to mid-day, began to back off a little bit after lunch,but then plunged. In an hour the Nasdaq 100 was down around 50 points,the S&P 500 around 20. They tried to bounce back, did a Fibonacciretracement, failed at resistance, and we[...]
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[Source: The Money Blogs]
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