The Reckoning Begins

The chart monkeys are getting eviscerated. Like a hot knife through butter, the S&P 500 has plunged through the 50-DMA (2800), the 200-DMA (2760) and the so-called 50-week MA maginot line or 350-DMA (2682) with alacrity. At today’s close of 2632, the broad market index is now hanging from a sky-hook—down 6.0% from its first line of defense at the 50-DMA […]
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