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The takeaway story Monday was the combination of negative news and worries from Freddie (FRE) and Fannie (FNM) plus the extended nature of commodity and currency markets. This led to a sell-off in equities which could find no other supportive news from the dollar and commodities.

We're in the last two weeks of summer for investors in northern climes and many are just not around based on volume data. Breadth, however, was decidedly negative.

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Source: Tuesday Outlook: Ain't No Sunshine