The markets were simply ugly today. The started down early, and hardly bounced at all. I thought we might see some type of rally attempt late in the day, but the selling pressure intensified and the indexes basically closed at their lows for the day.There were the usual signs of panic selling. The ARMS Index hit 2.90, a very high level. And the volatility index (VIX) spiked fully +27% as fear reared its head.Breadth was atrocious today. The advance/decline line was as bad as its been since July, and downside volume on the N[...]
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[Source: The Money Blogs]
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