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Fundamentals Matter

I wrote yesterday that technicals looked OK and sentiment was bearish enough. Two indicators were pointing up (sentiment is always contrarian). But I don't see anything good in fundamentals. Most important of which:
GOP offers us a choice between cancer and heart attackj, I mean between sharp budget reductions and sovereign default. 
I don't even want to discuss, which one is worse. Like they used to say in Russia, both are worse.
Looks like today's market is a reaction to said fundamentals. In the end, fundamentals matter most of all.