Friday was a big ouch and a call to the emergency room for the market. The blood red day across the broader markets on volume that is back over the 50dma. The second half of the week we saw a lot of participation come back in the market, but it is all on the selling side. The last drop of this caliber was February 27, 2007, which was also a gap down on bad news and sold off throughout the day. The following day resulted in a small bounce then more selling for almost a month before the market recovered the lost ground and headed up until we saw the highs in July.&[...]
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[Source: The Money Blogs]
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