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Lookout If These Lows Break

I hate to focus too much on stocks but it feels like the forex market is looking for some direction, especially commodity currencies. If the S&P 500 falls below the intraday lows, it’s going to fall hard. A similar decline in the Dow would mean the daily loss is +500 points and that’s the kind of number that sends retail investors into panic mode. There’s still time for a fake out but if the declines come in the final hour, they usually last until the closing bell.