Today's sell off continued the one started on Friday, only with more
smack. It ended a plainly unsustainable rocket run up that produced
a massive short term overbought on price (the breadth overbought
reading was mundane). The market could lose a little more ground
over the next day or two and still would be well positioned to move
higher if it catches decent bids. Too early to throw up one's hands.
The short term overbought we saw last week doubled anything
I have seen for quite some time.
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