sp'daily5
R2K
Trans
Summary
We had the two leaders - Trans/R2K, weak across the morning, and with the break early in the afternoon, it only took the rest of the market a few hours, to similarly break lower.
Indeed, we now have clear breaks of trend on most indexes, and near term outlook is most certainly bearish for the remainder of this week.
The only thing the bears have to be concerned about is the Thursday QE, which might negate any opening gap lower.
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Big short trade.
A poster highlighted the following to me this evening...
see: massive trade that spooked the market
Certainly, that probably had some effect, although from what I gather, the bond sale today was probably more important.
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a little more later...