Its a crash, a daily one, the same day after day. Its really bad when very oversold leads to re crashing. Nothing but margin selling, other forced liquidations and some panic...sure doesn't feel like a lot though. Where and how a rally develops is really an unknown under these rare circumstances. S&P has a shot to hold at this MA, if not it probably goes to 2100-2200. As Raging as been saying, Rut has a first real target on the right side of its mountain at about 1160. My gut says there is a tax play adding to the waves of selling, we will see shortly if it lets up as the calendar rolls.
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