September 24, 2009
These were the orders from our collective understanding. But, you know how things go—Mr. Market didn’t get the memo. The selling was intense and most severe in commodity markets where trend reversals were the order of the day. Existing Home Sales data was the culprit today heaped upon yesterday’s “take the money and run” post Fed announcement.
Volume was again heavier on selling which isn’t a positive frankly but it does reduce overbought conditions. Breadth was as negative as you might have thought.
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