This quick note updates yesterday's post on the short term technical situation. Today's
sharp sell-off breaks the uptrend line going back to the end of Aug., 2010. As I noted
yesterday, a break of the short term trend (based on daily closing prices) would signal
that traders need to take the market's short term overbought condition more seriously.
Scroll down to yesterday's post and click on "Chart" for an update.
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