A disappointing end to a truly volatile week. The market closed near its lows for the day, as sellers emerged and investors worried about more writedowns coming out of Europe and the possibility that a large hedge fund is liquidating.The ARMS Index was high all day, as was the put/call ratio, but they didn’t help much. Sentiment is still extremely bearish, in some cases the most since 1990, which is why I think the market should still work higher before any retest of the lows.The big wildcard next week is the [...]
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[Source: The Money Blogs]
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